Interactive Brokers falls after Q1 profit miss, brokerage cuts PT

Automated electronic broker Interactive Brokers Group IBKR.O shares fall 9% to $157.87 premarket after Q1 profit miss

Co reports Q1 adj. earnings of $1.88 per share, falling short of analysts' estimate of $1.92 per share, according to data compiled by LSEG

IBKR also announces 28% increase in quarterly dividend to 32 cents; 4-for-1 stock split from mid-July

Piper Sandler lowers price target to $182 from $192 and 2025E/2026E EPS estimates due to lower margin loan balance expectations

Risks include IBKR revenues being highly dependent on trading volumes and customer balances, brokerage adds

Current average analyst rating on shares is "buy"; with nine rating "strong buy" or "buy", one "hold" and no "sell" or "strong sell"

IBKR has recovered about 20% from a 7-month low hit last week

As of last close, IBKR down 1.76% YTD