Zacks Research Research Analysts Increase Earnings Estimates for The Interpublic Group of Companies, Inc. (NYSE:IPG)

The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) – Investment analysts at Zacks Research lifted their Q2 2023 EPS estimates for shares of Interpublic Group of Companies in a note issued to investors on Monday, May 15th. Zacks Research analyst S. Bose now anticipates that the business services provider will earn $0.61 per share for the quarter, up from their prior estimate of $0.60. The consensus estimate for Interpublic Group of Companies’ current full-year earnings is $2.90 per share. Zacks Research also issued estimates for Interpublic Group of Companies’ Q3 2023 earnings at $0.78 EPS, Q4 2023 earnings at $1.19 EPS, FY2023 earnings at $2.95 EPS, Q1 2024 earnings at $0.65 EPS, Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.16 EPS, Q1 2025 earnings at $0.72 EPS and FY2025 earnings at $3.33 EPS.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a net margin of 8.31% and a return on equity of 29.28%. Interpublic Group of Companies’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 EPS.

A number of other research firms also recently issued reports on IPG. Citigroup boosted their price objective on shares of Interpublic Group of Companies from $39.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. BNP Paribas downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Wednesday, March 29th. Wells Fargo & Company upped their price target on shares of Interpublic Group of Companies from $36.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. Barclays cut their price target on shares of Interpublic Group of Companies from $42.00 to $40.00 in a report on Friday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $40.50.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $37.10 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $14.32 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.59 and a beta of 1.12. Interpublic Group of Companies has a 12-month low of $25.14 and a 12-month high of $39.52. The firm has a 50-day moving average price of $36.03 and a two-hundred day moving average price of $35.02.

Institutional Investors Weigh In On Interpublic Group of Companies

Large investors have recently bought and sold shares of the stock. Compass Wealth Management LLC acquired a new stake in Interpublic Group of Companies in the fourth quarter worth $25,000. Clear Street Markets LLC grew its holdings in Interpublic Group of Companies by 94.9% in the first quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock worth $28,000 after purchasing an additional 372 shares during the period. Sargent Bickham Lagudis LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter valued at $30,000. Ten Capital Wealth Advisors LLC bought a new position in shares of Interpublic Group of Companies in the third quarter valued at $31,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its stake in shares of Interpublic Group of Companies by 1,550.0% in the fourth quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 990 shares of the business services provider’s stock valued at $33,000 after buying an additional 930 shares in the last quarter. 96.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 16,507 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total value of $586,658.78. Following the completion of the transaction, the chief accounting officer now directly owns 55,406 shares in the company, valued at approximately $1,969,129.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Christopher F. Carroll sold 16,507 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total transaction of $586,658.78. Following the completion of the sale, the chief accounting officer now directly owns 55,406 shares in the company, valued at $1,969,129.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew Bonzani sold 38,885 shares of the stock in a transaction on 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 sale, the executive vice president now owns 111,769 shares of the company’s stock, valued at $3,980,094.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,779 shares of company stock worth $3,250,936. 0.33% of the stock is currently owned by company insiders.

About Interpublic Group of Companies

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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.