Interpublic Group of Companies (NYSE:IPG) Sets New 52-Week Low – Here’s What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG) reached a new 52-week low on Friday . The company traded as low as $27.95 and last traded at $28.00, with a volume of 2001014 shares traded. The stock had previously closed at $29.20.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Macquarie restated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Bank of America cut their price objective on shares of 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. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Price Performance

The company has a market cap of $10.09 billion, a price-to-earnings ratio of 12.78 and a beta of 1.10. The stock’s 50-day simple moving average is $30.62 and its 200 day simple moving average is $30.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.87%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Institutional Investors Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently modified their holdings of the company. Rosenberg Matthew Hamilton boosted its holdings in Interpublic Group of Companies by 9.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 365 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Interpublic Group of Companies by 2.2% in the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 382 shares during the period. Ballentine Partners LLC grew its holdings in shares of Interpublic Group of Companies by 2.9% in the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 399 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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.