Morgan Stanley Reaffirms “Equal Weight” Rating for Interpublic Group of Companies (IPG)

Morgan Stanley reissued their equal weight rating on shares of Interpublic Group of Companies (NYSE:IPG) in a research report report published on Monday morning, MarketBeat.com reports. They currently have a $24.00 price target on the business services provider’s stock.

IPG has been the topic of several other research reports. Macquarie raised Interpublic Group of Companies from a neutral rating to an outperform rating and lifted their target price for the company from $24.00 to $25.00 in a research note on Thursday, September 20th. Royal Bank of Canada raised Interpublic Group of Companies from a sector perform rating to an outperform rating in a research note on Wednesday, July 25th. Moffett Nathanson assumed coverage on Interpublic Group of Companies in a research note on Tuesday, June 19th. They issued a neutral rating and a $23.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Interpublic Group of Companies in a research note on Thursday, October 11th. They issued an overweight rating for the company. Finally, Zacks Investment Research cut Interpublic Group of Companies from a buy rating to a hold rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $25.22.

NYSE:IPG opened at $22.20 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.94 and a current ratio of 0.94. Interpublic Group of Companies has a fifty-two week low of $18.30 and a fifty-two week high of $26.01. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Interpublic Group of Companies had a return on equity of 28.53% and a net margin of 6.75%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Interpublic Group of Companies will post 1.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 3.78%. Interpublic Group of Companies’s payout ratio is 59.57%.

In related news, CFO Frank Mergenthaler sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $22.46, for a total value of $1,123,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.32% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in Interpublic Group of Companies by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 27,243,006 shares of the business services provider’s stock worth $638,576,000 after purchasing an additional 95,003 shares during the period. Ariel Investments LLC boosted its position in Interpublic Group of Companies by 0.4% during the second quarter. Ariel Investments LLC now owns 7,706,271 shares of the business services provider’s stock worth $180,635,000 after purchasing an additional 28,507 shares during the period. Hamlin Capital Management LLC boosted its position in Interpublic Group of Companies by 11.3% during the third quarter. Hamlin Capital Management LLC now owns 2,978,860 shares of the business services provider’s stock worth $68,127,000 after purchasing an additional 301,245 shares during the period. Dimensional Fund Advisors LP boosted its position in Interpublic Group of Companies by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,717,435 shares of the business services provider’s stock worth $63,702,000 after purchasing an additional 43,742 shares during the period. Finally, Legal & General Group Plc boosted its position in Interpublic Group of Companies by 1.5% during the first quarter. Legal & General Group Plc now owns 2,267,277 shares of the business services provider’s stock worth $52,206,000 after purchasing an additional 33,500 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Intrinsic Value and Stock Selection

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

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