Interpublic Group of Companies (NYSE:IPG) Announces Earnings Results

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

Interpublic Group of Companies Price Performance

NYSE:IPG traded down $0.15 during trading hours on Thursday, hitting $29.89. 3,688,364 shares of the stock traded hands, compared to its average volume of 3,945,795. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. Interpublic Group of Companies has a 1 year low of $27.54 and a 1 year high of $35.17. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 5.18 and a beta of 1.09. The stock has a 50 day moving average price of $31.36 and a 200 day moving average price of $30.74.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.42%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday. Bank of America reduced 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 research note on Thursday, September 5th. UBS Group lowered shares of 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 research note on Thursday, September 12th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.57.

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.