WPP (LON:WPP) Stock Price Up 5.6%

WPP plc (LON:WPP)’s share price rose 5.6% during mid-day trading on Thursday . The stock traded as high as GBX 749 ($9.85) and last traded at GBX 746.60 ($9.82). Approximately 3,319,723 shares changed hands during trading, an increase of 27% from the average daily volume of 2,611,820 shares. The stock had previously closed at GBX 706.80 ($9.29).

Wall Street Analysts Forecast Growth

WPP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on WPP from GBX 990 ($13.02) to GBX 950 ($12.49) and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup reaffirmed a “buy” rating on shares of WPP in a report on Thursday. Finally, Shore Capital reaffirmed a “buy” rating on shares of WPP in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, WPP presently has an average rating of “Moderate Buy” and an average target price of GBX 910 ($11.97).

WPP Stock Down 1.0 %

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 190.55. The stock has a market cap of £7.98 billion, a P/E ratio of 3,890.53, a PEG ratio of 13.47 and a beta of 1.13. The firm has a 50-day simple moving average of GBX 723.78 and a two-hundred day simple moving average of GBX 752.50.

WPP Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of GBX 15 ($0.20) per share. This represents a yield of 2.09%. The ex-dividend date is Thursday, October 10th. WPP’s payout ratio is 20,526.32%.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.