FY2021 EPS Estimates for Interpublic Group of Companies, Inc. (The) Reduced by Analyst (NYSE:IPG)

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) – Analysts at Gabelli reduced their FY2021 EPS estimates for Interpublic Group of Companies, Inc. (The) in a note issued to investors on Wednesday. Gabelli analyst B. Lucas now anticipates that the business services provider will post earnings of $2.16 per share for the year, down from their previous estimate of $2.29.

Several other research firms also recently commented on IPG. Zacks Investment Research downgraded shares of Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. BMO Capital Markets reissued a “buy” rating and set a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, April 17th. Evercore ISI assumed coverage on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, April 17th. They set an “outperform” rating and a $28.00 price objective for the company. Macquarie downgraded shares of Interpublic Group of Companies, Inc. (The) from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Tuesday, June 6th. Finally, BidaskClub raised shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.21.

Shares of Interpublic Group of Companies, Inc. (NYSE:IPG) traded up 1.22% during midday trading on Thursday, reaching $21.61. The company’s stock had a trading volume of 7,662,620 shares. The company’s 50-day moving average price is $24.35 and its 200-day moving average price is $24.25. The company has a market cap of $8.54 billion, a PE ratio of 15.56 and a beta of 1.56. Interpublic Group of Companies, Inc. has a 12 month low of $20.94 and a 12 month high of $25.71.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last issued its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.07. Interpublic Group of Companies, Inc. (The) had a return on equity of 27.73% and a net margin of 7.19%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis.

Several institutional investors have recently modified their holdings of IPG. BlackRock Inc. raised its position in shares of Interpublic Group of Companies, Inc. (The) by 1,377.1% in the first quarter. BlackRock Inc. now owns 35,267,293 shares of the business services provider’s stock worth $866,520,000 after buying an additional 32,879,667 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Interpublic Group of Companies, Inc. (The) by 22.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,648,240 shares of the business services provider’s stock worth $458,188,000 after buying an additional 3,411,539 shares during the period. Nordea Investment Management AB raised its position in shares of Interpublic Group of Companies, Inc. (The) by 15,710.1% in the first quarter. Nordea Investment Management AB now owns 2,806,292 shares of the business services provider’s stock worth $68,951,000 after buying an additional 2,788,542 shares during the period. Vanguard Group Inc. raised its position in shares of Interpublic Group of Companies, Inc. (The) by 6.4% in the first quarter. Vanguard Group Inc. now owns 39,548,092 shares of the business services provider’s stock worth $971,696,000 after buying an additional 2,396,037 shares during the period. Finally, Mawer Investment Management Ltd. bought a new position in shares of Interpublic Group of Companies, Inc. (The) during the first quarter worth approximately $46,260,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

In other Interpublic Group of Companies, Inc. (The) news, SVP Julie Connors sold 5,854 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total value of $142,018.04. Following the completion of the sale, the senior vice president now owns 10,592 shares of the company’s stock, valued at $256,961.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.49% of the stock is owned by company insiders.

About Interpublic Group of Companies, Inc. (The)

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).