Brokerages Set The Interpublic Group of Companies, Inc. (NYSE:IPG) Target Price at $30.57

The Interpublic Group of Companies, Inc. (NYSE:IPG) has received an average recommendation of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $30.57.

A number of analysts have commented on the company. Barclays reduced their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America lowered their target price on shares of 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. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st.

Hedge Funds Weigh In On Interpublic Group of Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Copley Financial Group Inc. bought a new position in shares of Interpublic Group of Companies in the third quarter worth about $485,000. Franklin Resources Inc. grew its holdings in Interpublic Group of Companies by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 295,937 shares of the business services provider’s stock valued at $9,322,000 after buying an additional 4,848 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Interpublic Group of Companies by 2.9% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 336,896 shares of the business services provider’s stock valued at $10,657,000 after acquiring an additional 9,567 shares during the last quarter. Tidal Investments LLC lifted its position in Interpublic Group of Companies by 13.1% during the third quarter. Tidal Investments LLC now owns 139,984 shares of the business services provider’s stock valued at $4,428,000 after purchasing an additional 16,187 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth about $107,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Up 3.5 %

Interpublic Group of Companies stock opened at $30.29 on Friday. Interpublic Group of Companies has a 12 month low of $26.88 and a 12 month high of $35.17. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 14.29 and a beta of 1.10. The business’s fifty day simple moving average is $30.12 and its two-hundred day simple moving average is $30.40. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities analysts predict that Interpublic Group of Companies will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.36%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

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.