Brokerages Set The Interpublic Group of Companies, Inc. (NYSE:IPG) Price Target at $34.13

The Interpublic Group of Companies, Inc. (NYSE:IPG) has received an average recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.13.

A number of research analysts have weighed in on IPG shares. Macquarie decreased their price objective on shares of 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. JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Bank of America dropped their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Barclays reduced their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $34.00 to $28.00 in a research note on Monday, July 22nd.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds and other institutional investors have recently modified their holdings of IPG. UMB Bank n.a. raised its holdings in Interpublic Group of Companies by 3.5% in the 1st quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 321 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Interpublic Group of Companies by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock valued at $356,000 after purchasing an additional 347 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Interpublic Group of Companies by 8.4% during the first quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock worth $148,000 after buying an additional 350 shares in the last quarter. Assetmark Inc. boosted its stake in Interpublic Group of Companies by 27.5% during the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after buying an additional 368 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Up 0.7 %

Shares of IPG stock opened at $32.61 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $35.17. The stock has a 50 day moving average of $30.28 and a 200 day moving average of $31.03. The stock has a market cap of $12.31 billion, a P/E ratio of 11.60, a P/E/G ratio of 3.44 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Interpublic Group of Companies will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

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.