Interpublic Group of Companies (NYSE:IPG) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Interpublic Group of Companies (NYSE:IPG) from an underweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $34.00 price objective on the business services provider’s stock, up from their prior price objective of $26.00.

A number of other equities analysts also recently commented on the company. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Bank of America decreased 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. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Finally, Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.71.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $29.78 on Tuesday. The firm has a 50-day moving average of $30.06 and a two-hundred day moving average of $30.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $11.09 billion, a P/E ratio of 14.05 and a beta of 1.10. Interpublic Group of Companies has a 1-year low of $26.88 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the business earned $0.70 EPS. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts expect that Interpublic Group of Companies will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is presently 62.26%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. raised its holdings in shares of Interpublic Group of Companies by 73.8% during 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 in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies in the third quarter worth $32,000. 98.43% of the stock is owned by institutional investors and hedge funds.

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.