Macquarie Trims Interpublic Group of Companies (NYSE:IPG) Target Price to $31.00

Interpublic Group of Companies (NYSE:IPG) had its price objective cut by Macquarie from $33.00 to $31.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

IPG has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Bank of America cut their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a buy rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company decreased their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. Finally, Morgan Stanley downgraded Interpublic Group of Companies from an equal weight rating to an underweight rating and cut their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $34.13.

Interpublic Group of Companies Stock Up 2.4 %

Shares of NYSE IPG opened at $30.98 on Thursday. The firm’s 50-day moving average is $29.97 and its two-hundred day moving average is $31.23. The company has a market capitalization of $11.64 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $35.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. Equities analysts anticipate that Interpublic Group of Companies will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s payout ratio is currently 46.98%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $31,000. Tobam increased its holdings in Interpublic Group of Companies by 2,340.0% in the 4th quarter. Tobam now owns 1,098 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,053 shares in the last quarter. Headlands Technologies LLC purchased a new position in Interpublic Group of Companies in the first quarter valued at about $42,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,235 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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.