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 report report published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut 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. UBS Group cut Interpublic Group of Companies from a neutral rating to a sell rating and cut their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. JPMorgan Chase & Co. cut Interpublic Group of Companies from an overweight rating to a neutral rating and dropped their target price for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Macquarie dropped their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a neutral rating for the company in a report on Thursday, July 25th. Finally, BNP Paribas cut Interpublic Group of Companies from a neutral rating to an underperform rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given 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 $32.44.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $30.79 on Wednesday. The business has a 50 day moving average price of $31.24 and a 200 day moving average price of $30.86. 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 company has a market cap of $11.62 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 5.23 and a beta of 1.09. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. Research analysts predict that Interpublic Group of Companies will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.29%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. grew its position in Interpublic Group of Companies by 3.5% during the 1st quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider’s stock worth $313,000 after acquiring an additional 321 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in Interpublic Group of Companies by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock valued at $356,000 after buying an additional 347 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Interpublic Group of Companies by 8.4% in the 1st quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock valued at $148,000 after buying an additional 350 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Interpublic Group of Companies by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after buying an additional 382 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

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.