Zacks Investment Research upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a hold rating to a buy rating in a research note published on Wednesday, May 30th. The firm currently has $25.00 price objective on the business services provider’s stock.
According to Zacks, “Interpublic’s digital capabilities, diversified business model and geographic reach offer a distinctive competitive advantage. Interpublic continues to look for strategic investments and buyouts to expand in high-growth regions and key world markets. The company’s efforts in reducing costs, continuous margin improvement, encouraging balance sheet and better capital structure should improve its profitability. Interpublic also outperformed the industry in the six three months. However, Interpublic is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post the Brexit referendum, lowering its productivity.”
Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Interpublic Group of Companies from a c+ rating to a b- rating in a research report on Monday, February 12th. Morgan Stanley upped their price target on shares of Interpublic Group of Companies to $23.00 and gave the company an equal weight rating in a research report on Wednesday, January 31st. Royal Bank of Canada restated a hold rating and issued a $26.00 price target on shares of Interpublic Group of Companies in a research report on Thursday, February 15th. Wells Fargo & Co restated a hold rating on shares of Interpublic Group of Companies in a research report on Wednesday, February 14th. Finally, ValuEngine cut shares of Interpublic Group of Companies from a buy rating to a hold rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $25.73.
Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Friday, April 27th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Interpublic Group of Companies had a return on equity of 26.05% and a net margin of 6.55%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. Interpublic Group of Companies’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts expect that Interpublic Group of Companies will post 1.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 18th. Stockholders of record on Monday, June 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, June 1st. Interpublic Group of Companies’s dividend payout ratio is currently 59.57%.
In related news, Director H John Greeniaus sold 33,573 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $24.15, for a total transaction of $810,787.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Guilfoile sold 8,392 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $24.04, for a total transaction of $201,743.68. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG boosted its stake in Interpublic Group of Companies by 19.3% during the fourth quarter. Deutsche Bank AG now owns 2,984,775 shares of the business services provider’s stock worth $60,167,000 after acquiring an additional 482,249 shares in the last quarter. Weik Capital Management boosted its stake in Interpublic Group of Companies by 24.1% during the fourth quarter. Weik Capital Management now owns 25,200 shares of the business services provider’s stock worth $508,000 after acquiring an additional 4,900 shares in the last quarter. BlackRock Inc. boosted its stake in Interpublic Group of Companies by 12.8% during the fourth quarter. BlackRock Inc. now owns 39,906,603 shares of the business services provider’s stock worth $804,517,000 after acquiring an additional 4,539,905 shares in the last quarter. Opus Capital Group LLC bought a new position in Interpublic Group of Companies during the fourth quarter worth $258,000. Finally, Ariel Investments LLC boosted its stake in Interpublic Group of Companies by 3.6% during the fourth quarter. Ariel Investments LLC now owns 7,975,621 shares of the business services provider’s stock worth $160,789,000 after acquiring an additional 274,047 shares in the last quarter. 99.46% of the stock is currently owned by institutional investors and hedge funds.
About Interpublic Group of Companies
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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