Interpublic Group of Companies (NYSE:IPG) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies (NYSE:IPG) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $33.00 target price on the business services provider’s stock, down from their prior target price of $36.00.

Other research analysts also recently issued reports about the stock. Macquarie reduced their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a neutral rating for the company in a research report on Thursday, July 25th. Bank of America cut their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a buy rating for the company in a report on Thursday, September 5th. Barclays cut their price objective on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an equal weight rating for the company in a report on Thursday, July 25th. BNP Paribas downgraded shares of Interpublic Group of Companies from a neutral rating to an underperform rating in a report on Monday. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an equal weight rating to an underweight rating and cut their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $32.44.

Interpublic Group of Companies Stock Down 0.8 %

Interpublic Group of Companies stock opened at $30.81 on Tuesday. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $35.17. The firm has a 50 day moving average price of $31.25 and a 200-day moving average price of $30.88. The company has a market capitalization of $11.63 billion, a P/E ratio of 10.96, a P/E/G ratio of 5.23 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Interpublic Group of Companies will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.28%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IPG. Benjamin Edwards Inc. boosted its holdings in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Voisard Asset Management Group Inc. bought a new position in Interpublic Group of Companies in the 4th quarter valued at $31,000. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after buying an additional 405 shares in the last quarter. 98.43% 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. 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.