Interpublic Group of Companies (NYSE:IPG) Shares Gap Down to $30.93

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $30.93, but opened at $29.65. Interpublic Group of Companies shares last traded at $30.32, with a volume of 828,066 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IPG shares. Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $29.00 in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, Macquarie cut their target price 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.00.

Interpublic Group of Companies Stock Performance

The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The stock’s 50-day moving average is $30.77 and its 200-day moving average is $30.97.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Institutional Investors Weigh In On Interpublic Group of Companies

Several hedge funds have recently modified their holdings of IPG. Private Advisor Group LLC purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at $236,000. Principal Securities Inc. purchased a new stake in Interpublic Group of Companies during the fourth quarter valued at about $242,000. Dimensional Fund Advisors LP increased its stake in Interpublic Group of Companies by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock worth $168,119,000 after acquiring an additional 141,828 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Interpublic Group of Companies by 2.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 385,544 shares of the business services provider’s stock worth $12,384,000 after purchasing an additional 7,750 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Interpublic Group of Companies by 23.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 43,021 shares of the business services provider’s stock valued at $1,404,000 after purchasing an additional 8,167 shares in the last quarter. 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.