Interpublic Group of Companies (NYSE:IPG) Price Target Lowered to $37.00 at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPGFree Report) had its target price cut by JPMorgan Chase & Co. from $38.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other brokerages have also recently commented on IPG. Citigroup dropped their target price on Interpublic Group of Companies from $43.00 to $40.00 and set a buy rating on the stock in a report on Monday, October 23rd. Morgan Stanley dropped their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an equal weight rating on the stock in a report on Monday, October 23rd. Wells Fargo & Company upped their price target on Interpublic Group of Companies from $31.00 to $32.00 and gave the company an equal weight rating in a report on Friday. UBS Group began coverage on Interpublic Group of Companies in a report on Thursday, January 11th. They issued a neutral rating and a $36.00 price target on the stock. Finally, Barclays upped their price target on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an equal weight rating in a report on Monday, January 29th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has a consensus rating of Hold and a consensus price target of $35.90.

Check Out Our Latest Report on Interpublic Group of Companies

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $30.78 on Friday. Interpublic Group of Companies has a 12 month low of $27.20 and a 12 month high of $40.95. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.73 and a beta of 1.15. The stock’s 50 day moving average price is $32.35 and its 200 day moving average price is $31.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.04 and a quick ratio of 1.04.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last announced its earnings results on Thursday, February 8th. The business services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. Interpublic Group of Companies had a return on equity of 31.15% and a net margin of 10.09%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts anticipate that Interpublic Group of Companies will post 2.93 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.29%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, February 29th. Interpublic Group of Companies’s payout ratio is presently 43.51%.

Hedge Funds Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPG. Moneta Group Investment Advisors LLC purchased a new position in Interpublic Group of Companies during the 4th quarter worth approximately $256,699,000. First Trust Advisors LP grew its holdings in shares of Interpublic Group of Companies by 1,196.9% during the 1st quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock valued at $222,651,000 after acquiring an additional 5,796,432 shares in the last quarter. Barclays PLC grew its holdings in shares of Interpublic Group of Companies by 462.8% during the 2nd quarter. Barclays PLC now owns 1,939,546 shares of the business services provider’s stock valued at $74,829,000 after acquiring an additional 1,594,945 shares in the last quarter. Ossiam grew its holdings in shares of Interpublic Group of Companies by 1,423.9% during the 2nd quarter. Ossiam now owns 1,580,750 shares of the business services provider’s stock valued at $60,985,000 after acquiring an additional 1,477,017 shares in the last quarter. Finally, Black Creek Investment Management Inc. grew its holdings in shares of Interpublic Group of Companies by 14.1% during the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after acquiring an additional 1,204,630 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Interpublic Group of Companies (NYSE:IPG)

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