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ITV (LSE:ITV) has often looked like a dirt-cheap FTSE stock to me, and I’ve tried to talk myself into investing (possibly out of nostalgia for shows like Heartbeat and A Touch of Frost!). But when I check in every few months to review the share, it’s gone nowhere.
Not much has changed on this front. The share price is up 1% in 12 months and down 1% over five years. Not great drama then, though someone who invested four years ago would be down by 38%.
Yet I can still see the appeal. There’s a well-supported 6.3% dividend yield on offer, and the price-to-earnings (P/E) ratio of 7.7 is very undemanding. Indeed, it could prove to be an outright bargain if investors start reassessing the broadcaster’s prospects.
Let’s take a closer look.
ITV at a glance
Like one of its two-part dramas, ITV is split into two businesses. There’s the Media & Entertainment unit, which…
