Interpublic Group of Companies (NYSE:IPG) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note published on Thursday. The firm issued a hold rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on IPG. Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Bank of America dropped their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Barclays cut their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.71.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $29.07 on Thursday. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 13.71 and a beta of 1.10. Interpublic Group of Companies has a fifty-two week low of $26.88 and a fifty-two week high of $35.17. The firm has a 50-day simple moving average of $29.86 and a 200-day simple moving average of $30.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. On average, equities research analysts anticipate that Interpublic Group of Companies will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares in the last quarter. Andra AP fonden increased its holdings in Interpublic Group of Companies by 16.2% during the 2nd quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after acquiring an additional 74,200 shares in the last quarter. Vest Financial LLC raised its position in Interpublic Group of Companies by 39.3% during the second quarter. Vest Financial LLC now owns 789,466 shares of the business services provider’s stock worth $22,966,000 after acquiring an additional 222,693 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Interpublic Group of Companies by 2,679.9% in the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 29,425 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $1,589,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Company Profile

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.