Zacks Investment Research upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $25.00 price target on the business services provider’s stock.
According to Zacks, “Interpublic continues to benefit from higher organic revenue growth. The company's digital capabilities, diversified business model and geographic reach offer a distinctive competitive advantage. It continues to look for strategic investments and buyouts to expand in high-growth regions and key world markets. Interpublic’s consistent efforts to reward its shareholders through share repurchases and dividend payments are appreciable. Shares of the company have outperformed its industry in the past year. However, the company’s global presence makes it vulnerable to foreign currency fluctuations. Its cash position is affected by seasonality in business. Client concentration can be a major hindrance to Interpublic’s business. A debt-laden balance sheet is another concern.”
A number of other research analysts also recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company an outperform rating in a research report on Wednesday, October 24th. Citigroup boosted their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company a buy rating in a research report on Friday, October 19th. Morgan Stanley reissued an equal weight rating and set a $24.00 price objective on shares of Interpublic Group of Companies in a research report on Monday, October 15th. JPMorgan Chase & Co. began coverage on shares of Interpublic Group of Companies in a research report on Thursday, October 11th. They set an overweight rating on the stock. Finally, Macquarie upgraded shares of Interpublic Group of Companies from a neutral rating to an outperform rating and boosted their target price for the company from $24.00 to $25.00 in a report on Thursday, September 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $25.33.
Shares of Interpublic Group of Companies stock opened at $24.35 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.84 and a beta of 1.07. Interpublic Group of Companies has a 12-month low of $18.99 and a 12-month high of $26.01.
Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Friday, October 19th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. On average, analysts forecast that Interpublic Group of Companies will post 1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, November 30th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 59.57%.
In other news, Director Jocelyn Carter-Miller sold 8,735 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $23.24, for a total transaction of $203,001.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director H John Greeniaus sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $23.50, for a total transaction of $117,500.00. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Exane Derivatives boosted its stake in Interpublic Group of Companies by 36.9% in the 3rd quarter. Exane Derivatives now owns 138,347 shares of the business services provider’s stock worth $3,163,000 after purchasing an additional 37,260 shares in the last quarter. Round Table Services LLC bought a new position in Interpublic Group of Companies in the 3rd quarter worth about $203,000. First Hawaiian Bank bought a new position in Interpublic Group of Companies in the 3rd quarter worth about $531,000. Ariel Investments LLC boosted its stake in Interpublic Group of Companies by 0.4% in the 2nd quarter. Ariel Investments LLC now owns 7,706,271 shares of the business services provider’s stock worth $180,635,000 after purchasing an additional 28,507 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Interpublic Group of Companies by 237.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,363 shares of the business services provider’s stock worth $1,251,000 after purchasing an additional 37,563 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.
Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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