Interpublic Group of Companies (NYSE:IPG) Shares Down 3.4%

The Interpublic Group of Companies, Inc. (NYSE:IPG) traded down 3.4% on Wednesday . The stock traded as low as $29.79 and last traded at $30.87. 2,183,837 shares were traded during trading, a decline of 44% from the average session volume of 3,867,534 shares. The stock had previously closed at $31.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Macquarie cut their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, Barclays cut their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $34.13.

Interpublic Group of Companies Stock Down 1.8 %

The firm has a market cap of $11.84 billion, a PE ratio of 11.44, a PEG ratio of 3.44 and a beta of 1.12. The business’s 50 day moving average price is $30.39 and its 200 day moving average price is $31.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) 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 company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Interpublic Group of Companies’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current 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 issued a $0.33 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.21%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of hedge funds have recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. increased its position in shares of 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 purchasing an additional 375 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Interpublic Group of Companies by 652.2% in the 2nd 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 last quarter. Voisard Asset Management Group Inc. purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in shares of Interpublic Group of Companies in the 2nd quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after buying an additional 405 shares during the last quarter. 98.43% 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. 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.