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

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

Separately, Wells Fargo & Company lowered 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 research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $35.00.

Interpublic Group of Companies Trading Down 0.1 %

NYSE IPG opened at $29.09 on Tuesday. Interpublic Group of Companies has a 52 week low of $27.20 and a 52 week high of $40.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50 day moving average price is $30.70 and its two-hundred day moving average price is $31.70. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 3.10 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data 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 net margin of 9.97% and a return on equity of 29.70%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts anticipate that Interpublic Group of Companies will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Institutional Investors Weigh In On Interpublic Group of Companies

Large investors have recently added to or reduced their stakes in the business. Marino Stram & Associates LLC grew its position in shares of Interpublic Group of Companies by 1.2% in the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock valued at $870,000 after purchasing an additional 315 shares during the last quarter. UMB Bank n.a. increased 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 buying an additional 321 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Interpublic Group of Companies by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares in the last quarter. Simplicity Solutions LLC raised its stake in Interpublic Group of Companies by 4.6% in the 4th quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after purchasing an additional 327 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Interpublic Group of Companies by 3.3% in the first 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 period. 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.