Interpublic Group of Companies (NYSE:IPG) Receives Underweight Rating from Wells Fargo & Company

Wells Fargo & Company restated their underweight rating on shares of Interpublic Group of Companies (NYSE:IPG) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $26.00 target price on the business services provider’s stock, down from their prior target price of $28.00.

Several other analysts also recently weighed in on IPG. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Barclays reduced their price target 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. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. JPMorgan Chase & Co. downgraded shares of 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 research note on Tuesday, October 1st. Finally, Macquarie reaffirmed a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.81.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $29.78 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 stock has a market capitalization of $11.24 billion, a PE ratio of 10.60, a PEG ratio of 5.18 and a beta of 1.09. The firm has a 50 day moving average of $31.39 and a 200-day moving average of $30.75. Interpublic Group of Companies has a 12 month low of $27.53 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. On average, equities research analysts predict that Interpublic Group of Companies will post 2.83 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. lifted its holdings in Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after buying an additional 375 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC bought a new position in shares of Interpublic Group of Companies during the second quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its stake in shares of Interpublic Group of Companies by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after acquiring an additional 405 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Interpublic Group of Companies in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.