Interpublic Group of Companies (NYSE:IPG) Price Target Lowered to $37.00 at Bank of America

Interpublic Group of Companies (NYSE:IPG) had its target price lowered by Bank of America from $38.00 to $37.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Separately, Wells Fargo & Company reduced their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of Hold and an average target price of $35.00.

Interpublic Group of Companies Trading Down 1.2 %

NYSE:IPG opened at $29.15 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $30.78 and its two-hundred day moving average is $31.75. Interpublic Group of Companies has a 52 week low of $27.20 and a 52 week high of $40.90. The company has a market cap of $11.00 billion, a PE ratio of 10.37, a P/E/G ratio of 2.69 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $0.38 EPS. Interpublic Group of Companies’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Interpublic Group of Companies will post 2.8 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

Institutional Trading of Interpublic Group of Companies

Several hedge funds have recently made changes to their positions in the stock. Marino Stram & Associates LLC lifted its holdings in shares of Interpublic Group of Companies by 1.2% in the 4th quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock worth $870,000 after purchasing an additional 315 shares during the last quarter. UMB Bank n.a. raised its stake 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 valued at $313,000 after acquiring an additional 321 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Interpublic Group of Companies by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 327 shares in the last quarter. Simplicity Solutions LLC raised its stake in Interpublic Group of Companies by 4.6% during the 4th quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 327 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its stake in Interpublic Group of Companies by 3.3% during 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 acquiring an additional 347 shares in the last quarter. Institutional investors 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.