Interpublic Group of Companies (NYSE:IPG) Reaches New 52-Week Low – Here’s What Happened

Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) reached a new 52-week low during trading on Friday . The stock traded as low as $26.86 and last traded at $26.86, with a volume of 1221007 shares. The stock had previously closed at $27.53.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IPG shares. Macquarie restated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Barclays cut their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday. StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Saturday, January 4th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $32.50.

Interpublic Group of Companies Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 12.70 and a beta of 1.11. The company’s 50 day moving average is $29.12 and its 200 day moving average is $30.11.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds have recently made changes to their positions in IPG. State Street Corp boosted its stake in Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Interpublic Group of Companies by 168.3% during the 2nd quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock worth $24,186,000 after purchasing an additional 521,546 shares in the last quarter. Institutional investors and hedge funds 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.