Interpublic Group of Companies (NYSE:IPG) Releases Quarterly Earnings Results, Hits Estimates

Interpublic Group of Companies (NYSE:IPG) announced its quarterly earnings results on Tuesday. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70, RTT News reports. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue was down 2.9% compared to the same quarter last year.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $31.60 on Tuesday. The stock’s 50-day moving average is $31.41 and its two-hundred day moving average is $30.76. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 5.18 and a beta of 1.09. Interpublic Group of Companies has a 1-year low of $27.53 and a 1-year high of $35.17.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.18%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

Analyst Upgrades and Downgrades

IPG has been the subject of several analyst reports. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Macquarie cut their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $32.44.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.