Macquarie upgraded shares of Interpublic Group of Companies (NYSE:IPG) from an underperform rating to a neutral rating in a research note published on Friday, MarketBeat Ratings reports. Macquarie currently has $24.00 price objective on the business services provider’s stock.
Several other analysts have also commented on IPG. Pivotal Research restated a buy rating and issued a $23.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 24th. Wells Fargo & Co restated a buy rating on shares of Interpublic Group of Companies in a report on Tuesday, October 24th. Royal Bank of Canada restated a hold rating on shares of Interpublic Group of Companies in a report on Wednesday, October 25th. BMO Capital Markets lowered their price objective on shares of Interpublic Group of Companies from $26.00 to $25.00 and set an outperform rating for the company in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Interpublic Group of Companies from a hold rating to a sell rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $26.07.
Shares of Interpublic Group of Companies (IPG) opened at $25.33 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Interpublic Group of Companies has a 1-year low of $18.30 and a 1-year high of $26.01. The company has a market cap of $9,843.46, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.45.
Interpublic Group of Companies declared that its board has initiated a stock buyback plan on Wednesday, February 14th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.32%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, February 28th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 48.98%.
Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $113,000. NuWave Investment Management LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $129,000. MML Investors Services LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $201,000. Virtu Financial LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $208,000. Finally, Bank of Stockton purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.
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Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
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