In yesterday’s Wall Street session, The Interpublic Group of Companies Inc. (NYSE:IPG) shares traded at $29.31, down -1.71% from the previous session.
15 analysts cover The Interpublic Group of Companies Inc. (NYSE:IPG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $43.00 and a low of $33.00, we find $38.00. Given the previous closing price of $29.82, this indicates a potential upside of 27.43 percent. IPG stock price is now -12.26% away from the 50-day moving average and -17.73% away from the 200-day moving average. The market capitalization of the company currently stands at $11.40B.
The stock has received a hold rating from 10 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $38.18 as their price target over the next twelve months.
With the price target reduced from $43 to $33, Wells Fargo Downgraded its rating from Overweight to Equal Weight for The Interpublic Group of Companies Inc. (NYSE: IPG).
In other news, HUDSON DAWN E, Director sold 5,950 shares of the company’s stock on Mar 15. The stock was sold for $197,242 at an average price of $33.15. Upon completion of the transaction, the Director now directly owns 26,930 shares in the company, valued at $0.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, Director Carter-Miller Jocelyn sold 6,425 shares of the business’s stock. A total of $228,088 was realized by selling the stock at an average price of $35.50. This leaves the insider owning 31,789 shares of the company worth $0.93 million. Insiders disposed of 344,612 shares of company stock worth roughly $10.1 million over the past 1 year. A total of 0.54% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IPG stock. A new stake in The Interpublic Group of Companies Inc. shares was purchased by TWINBEECH CAPITAL LP during the first quarter worth $9,133,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $7,750,000 in shares of IPG during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in The Interpublic Group of Companies Inc. valued at approximately $7,103,000. VANCITY INVESTMENT MANAGEMENT LTD acquired a new stake in IPG for approximately $6,205,000. MORAN WEALTH MANAGEMENT, LLC purchased a new stake in IPG valued at around $6,076,000 in the second quarter. In total, there are 1,059 active investors with 99.70% ownership of the company’s stock.
On Thursday morning The Interpublic Group of Companies Inc. (NYSE: IPG) stock kicked off with the opening price of $29.74. During the past 12 months, The Interpublic Group of Companies Inc. has had a low of $25.14 and a high of $40.95. As of last week, the company has a debt-to-equity ratio of 0.87, a current ratio of 1.00, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $14.31B, which is based on a 12.17 price-to-earnings ratio, a 2.30 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for IPG is $33.22 and a two-hundred day moving average price translates $35.60 for the stock.
The latest earnings results from The Interpublic Group of Companies Inc. (NYSE: IPG) was released for Jun, 2023. According to the Advertising Agencies Company, earnings per share came in at $0.57, missing analysts’ expectations of $0.6 by -0.03. This compares to $0.58 EPS in the same period last year. The net profit margin was 8.70% and return on equity was 26.30% for IPG. The company reported revenue of $2.67 billion for the quarter, compared to $2.74 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.53 percent. For the current quarter, analysts expect IPG to generate $2.4B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/01/2023 were paid a $0.31 dividend. On an annualized basis, this represents a $1.24 dividend and a 4.23% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, IPG is presently at 49.50%.
The Interpublic Group of Companies Inc.(IPG) 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. The Integrated Advertising & Creativity Led Solutions segment offers advertising, corporate, and brand identity services; and strategic consulting. Specialized Communications & Experiential Solutions segment provides public relations and other specialized communications services, events, sports and entertainment marketing, and strategic consulting. The company was formerly known as McCann-Erickson Incorporated and changed its name to The Interpublic Group of Companies, Inc. in `January 1961. The Interpublic Group of Companies, Inc. was founded in 1902 and is headquartered in New York, New York.
