Upgraded Stocks: Interactive Brokers Group (NASDAQ:IBKR)
Interactive Brokers Group (NASDAQ:IBKR) had a huge quarter, with the broker and market-maker group’s revenues and profits surpassing Wall Street’s expectations.
Earnings per share jumped from 14 cents per share to 34 cents, exceeded consensus estimates by 17%. Revenues were $355 million, compared to just $216 million in the same quarter last year. Margins got a lot fatter this quarter as well — IBKR boasted 61% pretax profit margins, up from 38% in the year-ago quarter. Lastly, customer accounts grew 16% year-over-year to 252,000 as investors and traders continue to return to the stock and bond markets.
Portfolio Grader recognized the strong improvements in the fundamentals and upgraded IBKR stock to an “A” this week, signifying a “strong buy” recommendation.