Barclays Cuts Interpublic Group of Companies (NYSE:IPG) Price Target to $32.50

Interpublic Group of Companies (NYSE:IPG) had its target price lowered by Barclays from $34.00 to $32.50 in a research note published on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

Other research analysts have also issued reports about the company. UBS Group lowered Interpublic Group of Companies from a neutral rating to a sell rating and reduced their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. BNP Paribas lowered Interpublic Group of Companies from a neutral rating to an underperform rating in a research report on Monday, September 30th. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an overweight rating to a neutral rating and dropped their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a buy rating on the stock in a research note on Thursday, September 5th. Finally, Macquarie dropped their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a neutral rating on the stock in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $32.44.

Interpublic Group of Companies Stock Down 0.1 %

NYSE:IPG opened at $30.79 on Wednesday. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.62 billion, a P/E ratio of 10.96, a P/E/G ratio of 5.23 and a beta of 1.09. The stock’s fifty day simple moving average is $31.24 and its 200-day simple moving average is $30.86.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results 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. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Interpublic Group of Companies will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is 46.98%.

Institutional Trading of Interpublic Group of Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Interpublic Group of Companies by 15.0% in the 1st quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock valued at $32,281,000 after purchasing an additional 129,215 shares during the period. Alaska Permanent Fund Corp increased its position in shares of Interpublic Group of Companies by 305.6% in the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock valued at $1,766,000 after acquiring an additional 40,785 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Interpublic Group of Companies by 3.0% in the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares during the last quarter. Tidal Investments LLC increased its position in shares of Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Interpublic Group of Companies by 176.5% in the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after acquiring an additional 162,468 shares during the last quarter. Institutional investors and hedge funds 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.