WPP (LON:WPP) Reaches New 12-Month High – Time to Buy?

Shares of WPP plc (LON:WPP) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as GBX 429.80 and last traded at GBX 428.70, with a volume of 8,654,834 shares trading hands. The stock had previously closed at GBX 419.20.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WPP. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 425 price objective on shares of WPP in a research report on Friday, August 7th. Berenberg Bank upped their target price on WPP from GBX 470 to GBX 480 and gave the company a “buy” rating in a report on Friday, October 30th. JPMorgan Chase & Co. increased their target price on shares of WPP from GBX 350 to GBX 390 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Citigroup raised their price target on shares of WPP from GBX 285 to GBX 430 and gave the stock a “neutral” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 431.25.

WPP Price Performance

The business has a 50-day moving average of GBX 386.73 and a 200 day moving average of GBX 307.12. The firm has a market capitalization of £4.59 billion, a PE ratio of -19.07, a price-to-earnings-growth ratio of 13.47 and a beta of 0.74. The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 276.02.

WPP (LON:WPP) last released its earnings results on Friday, August 7th. The company reported GBX 1.80 earnings per share (EPS) for the quarter. WPP had a negative return on equity of 9.33% and a negative net margin of 1.81%. As a group, research analysts anticipate that WPP plc will post 81.61 EPS for the current fiscal year.

WPP Company Profile

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.