Interpublic Group of Companies (NYSE:IPG) Stock Price Down 5.2% – Here’s What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG) shares traded down 5.2% during trading on Tuesday . The company traded as low as $29.66 and last traded at $29.98. 951,228 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 3,894,150 shares. The stock had previously closed at $31.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Barclays cut their target price on Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Finally, Bank of America cut their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.44.

Interpublic Group of Companies Trading Down 6.8 %

The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.12 billion, a PE ratio of 10.67, a PEG ratio of 5.18 and a beta of 1.09. The firm has a fifty day simple moving average of $31.41 and a two-hundred day simple moving average of $30.76.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.48%. Interpublic Group of Companies’s payout ratio is 46.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. boosted its stake 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 valued at $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. boosted its position in 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 period. International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies in the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its position in shares of Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after acquiring an additional 405 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Interpublic Group of Companies during the first quarter valued at approximately $42,000. 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.