Interpublic Group of Companies (NYSE:IPG – Get Rating) announced its quarterly earnings results on Thursday. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07, Briefing.com reports. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Interpublic Group of Companies had a return on equity of 30.58% and a net margin of 8.58%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share.
NYSE IPG traded up $0.59 on Friday, reaching $35.80. The company had a trading volume of 2,435,024 shares, compared to its average volume of 3,707,328. The firm has a market capitalization of $13.84 billion, a PE ratio of 14.79, a P/E/G ratio of 1.75 and a beta of 1.12. Interpublic Group of Companies has a 1 year low of $25.14 and a 1 year high of $39.52. The firm has a 50-day moving average of $36.08 and a 200-day moving average of $34.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.31 per share. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $1.24 annualized dividend and a dividend yield of 3.46%. Interpublic Group of Companies’s payout ratio is presently 52.10%.
IPG has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Bank of America raised Interpublic Group of Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $40.00 in a research report on Thursday, March 30th. JPMorgan Chase & Co. lifted their price objective on Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Citigroup lifted their price objective on Interpublic Group of Companies from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Finally, Morgan Stanley upped their price target on shares of Interpublic Group of Companies from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.50.
In other news, Director Dawn E. Hudson sold 5,950 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $33.15, for a total transaction of $197,242.50. Following the completion of the sale, the director now directly owns 26,930 shares in the company, valued at $892,729.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Andrew Bonzani sold 38,885 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total transaction of $1,384,694.85. Following the completion of the sale, the executive vice president now directly owns 111,769 shares in the company, valued at $3,980,094.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawn E. Hudson sold 5,950 shares of Interpublic Group of Companies stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $33.15, for a total transaction of $197,242.50. Following the completion of the sale, the director now owns 26,930 shares of the company’s stock, valued at approximately $892,729.50. The disclosure for this sale can be found here. Insiders sold a total of 91,779 shares of company stock worth $3,250,936 in the last 90 days. 0.35% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its stake in shares of Interpublic Group of Companies by 22.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,734 shares of the business services provider’s stock worth $56,000 after buying an additional 315 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Interpublic Group of Companies by 58.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 30,566 shares of the business services provider’s stock valued at $1,018,000 after buying an additional 11,222 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $25,000. WealthPLAN Partners LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $749,000. Finally, Moneta Group Investment Advisors LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $257,000. Institutional investors own 96.75% of the company’s stock.
Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.
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