Interpublic Group of Companies, Inc. (The) (NYSE:IPG) announced its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.07, Morningstar.com reports. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. Interpublic Group of Companies, Inc. (The) had a net margin of 7.19% and a return on equity of 27.72%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS.
Shares of Interpublic Group of Companies, Inc. (IPG) traded down 2.405% on Friday, reaching $21.305. The company’s stock had a trading volume of 1,721,217 shares. The company’s 50 day moving average is $24.21 and its 200-day moving average is $24.23. The stock has a market cap of $8.38 billion, a PE ratio of 15.338 and a beta of 1.53. Interpublic Group of Companies, Inc. has a 1-year low of $20.94 and a 1-year high of $25.71.
In other news, SVP Julie Connors sold 5,854 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total transaction of $142,018.04. Following the completion of the sale, the senior vice president now owns 10,592 shares in the company, valued at approximately $256,961.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPG. Federated Investors Inc. PA acquired a new position in Interpublic Group of Companies, Inc. (The) during the fourth quarter worth $255,000. Kentucky Retirement Systems purchased a new position in Interpublic Group of Companies, Inc. (The) during the fourth quarter worth approximately $674,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Interpublic Group of Companies, Inc. (The) during the fourth quarter worth approximately $301,000. Macquarie Group Ltd. raised its position in Interpublic Group of Companies, Inc. (The) by 50.7% in the fourth quarter. Macquarie Group Ltd. now owns 155,618 shares of the business services provider’s stock worth $3,642,000 after buying an additional 52,366 shares during the period. Finally, Pensionfund Sabic raised its position in Interpublic Group of Companies, Inc. (The) by 3.5% in the first quarter. Pensionfund Sabic now owns 62,500 shares of the business services provider’s stock worth $1,536,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 98.19% of the company’s stock.
Several analysts have recently weighed in on IPG shares. Macquarie downgraded Interpublic Group of Companies, Inc. (The) from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $24.00 in a report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, May 22nd. Telsey Advisory Group upped their target price on Interpublic Group of Companies, Inc. (The) from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, April 24th. BidaskClub downgraded Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 target price (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.21.
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).
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