Interpublic Group of Companies (NYSE:IPG) Issues Earnings Results, Hits Estimates

Interpublic Group of Companies (NYSE:IPG) posted its quarterly earnings results on Tuesday. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70, RTT News reports. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis.

Interpublic Group of Companies Stock Down 1.3 %

IPG stock opened at $31.60 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average of $31.41 and a two-hundred day moving average of $30.76. Interpublic Group of Companies has a 12 month low of $27.53 and a 12 month high of $35.17. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.18%. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Barclays lowered their target price on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.44.

About Interpublic Group of Companies

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.