Bank of America Trims Interpublic Group of Companies (NYSE:IPG) Target Price to $35.00

Interpublic Group of Companies (NYSE:IPG) had its price target decreased by Bank of America from $36.00 to $35.00 in a research report sent to investors on Thursday, Benzinga reports. Bank of America currently has a buy rating on the business services provider’s stock.

A number of other equities analysts have also recently commented on the company. Macquarie lowered their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a neutral rating for the company in a report on Thursday, July 25th. Barclays decreased 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 note on Thursday, July 25th. Morgan Stanley cut Interpublic Group of Companies from an equal weight rating to an underweight rating and decreased their price objective for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an overweight rating for the company in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $33.88.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.09 on Thursday. The business has a 50-day moving average of $30.53 and a 200 day moving average of $31.01. Interpublic Group of Companies has a 12 month low of $27.20 and a 12 month high of $35.17. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 3.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

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

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Institutional Investors Weigh In On Interpublic Group of Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. raised its position 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 worth $26,000 after acquiring an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares during the period. Voisard Asset Management Group Inc. acquired a new position in Interpublic Group of Companies during the fourth quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies during the second quarter worth approximately $32,000. Finally, EverSource Wealth Advisors LLC increased its position in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.