Interpublic Group of Companies (NYSE:IPG) Lifted to Neutral at Bank of America

Bank of America upgraded shares of Interpublic Group of Companies (NYSE:IPG) from an underperform rating to a neutral rating in a research note released on Wednesday morning, Briefing.com Automated Import reports.

Several other research firms have also commented on IPG. ValuEngine lowered shares of W&T Offshore from a hold rating to a sell rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $25.86.

NYSE IPG opened at $23.77 on Wednesday. Interpublic Group of Companies has a 52 week low of $19.61 and a 52 week high of $25.10. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.66 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. The company’s 50-day simple moving average is $22.32.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Friday, April 26th. The business services provider reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Interpublic Group of Companies had a net margin of 6.31% and a return on equity of 32.74%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts forecast that Interpublic Group of Companies will post 1.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 3.95%. The ex-dividend date was Friday, May 31st. Interpublic Group of Companies’s dividend payout ratio is 50.54%.

In other news, Director David M. Thomas bought 8,650 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, April 30th. The stock was bought at an average cost of $23.12 per share, with a total value of $199,988.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.09% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Interpublic Group of Companies by 21.3% in the 1st quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock worth $1,063,001,000 after acquiring an additional 8,893,992 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Interpublic Group of Companies by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 16,473,776 shares of the business services provider’s stock worth $346,114,000 after acquiring an additional 374,754 shares in the last quarter. Lunia Capital LP increased its holdings in Interpublic Group of Companies by 1,691.7% in the 4th quarter. Lunia Capital LP now owns 11,089,594 shares of the business services provider’s stock worth $11,090,000 after acquiring an additional 10,470,666 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Interpublic Group of Companies by 20.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,475,275 shares of the business services provider’s stock worth $199,074,000 after acquiring an additional 1,603,251 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Interpublic Group of Companies by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock worth $121,825,000 after purchasing an additional 479,075 shares during the period. 99.27% of the stock is owned by institutional investors.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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

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