Gabelli Previews Earnings From Interactive Brokers

Gabelli & Co. is out with a research report on Interactive Brokers Group (NASDAQ: IBKR) and it has a Buy rating on shares.

In a note to clients, Gabelli & Co. writes, "We are updating our earnings estimates to reflect our expectations for the 3Q. We expect the company to generate 2011, 2012 earnings of $1.15, $1.10 per share, respectively. IBG's brokerage segment continues to grow rapidly due to its global footprint and increase in exchange based trading. The firm maintains a compelling competitive advantage because of its automated low cost platform."

Shares of IBKR closed at $13.74 yesterday.