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 previous target price of $36.00.

IPG has been the topic of several other reports. Morgan Stanley downgraded Interpublic Group of Companies from an equal weight rating to an underweight rating and dropped their price target for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a buy rating on the stock in a research report on Thursday, September 5th. BNP Paribas lowered shares of Interpublic Group of Companies from a neutral rating to an underperform rating in a research report on Monday, September 30th. UBS Group downgraded Interpublic Group of Companies from a neutral rating to a sell rating and decreased their target price for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Barclays reduced their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an equal weight rating for the company in a research report on Thursday, July 25th. Three research 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, the stock currently has an average rating of Hold and an average price target of $32.44.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $30.79 on Tuesday. Interpublic Group of Companies has a 1-year low of $27.20 and a 1-year high of $35.17. The firm has a fifty day simple moving average of $31.24 and a 200-day simple moving average of $30.87. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 5.23 and a beta of 1.09.

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

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in shares of Interpublic Group of Companies by 12.7% during the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock worth $225,954,000 after purchasing an additional 777,456 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after buying an additional 828,150 shares in the last quarter. Ariel Investments LLC raised its stake in shares of Interpublic Group of Companies by 3.5% in the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after acquiring an additional 193,898 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Interpublic Group of Companies by 4.8% in the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after acquiring an additional 255,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings 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 worth $158,157,000 after acquiring an additional 899,332 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.