Brokerages Set The Interpublic Group of Companies, Inc. (NYSE:IPG) Price Target at $30.57

The Interpublic Group of Companies, Inc. (NYSE:IPG) has earned a consensus rating of “Reduce” from the eight ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.57.

Several equities analysts have weighed in on the company. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd.

Interpublic Group of Companies Price Performance

IPG opened at $29.20 on Tuesday. Interpublic Group of Companies has a fifty-two week low of $28.00 and a fifty-two week high of $35.17. The firm has a 50-day moving average of $30.74 and a 200 day moving average of $30.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $10.88 billion, a P/E ratio of 13.82 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.70 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Interpublic Group of Companies will post 2.81 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after buying an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after acquiring an additional 899,332 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Interpublic Group of Companies by 101.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after acquiring an additional 853,287 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Interpublic Group of Companies by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Interpublic Group of Companies in the first quarter worth approximately $20,493,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.