Interpublic Group of Companies (NYSE:IPG) Posts Earnings Results

Interpublic Group of Companies (NYSE:IPG) posted its quarterly earnings data on Monday. The business services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02, Zacks reports. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.19 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share.

Interpublic Group of Companies Stock Up 0.1%

Shares of Interpublic Group of Companies stock traded up $0.04 during midday trading on Wednesday, hitting $25.39. The company’s stock had a trading volume of 1,090,101 shares, compared to its average volume of 6,730,429. The firm has a market capitalization of $9.30 billion, a P/E ratio of 21.52 and a beta of 1.12. Interpublic Group of Companies has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $26.35 and a 200-day simple moving average of $25.41.

Hedge Funds Weigh In On Interpublic Group of Companies

Several institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in shares of Interpublic Group of Companies by 62.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,061 shares of the business services provider’s stock worth $355,000 after buying an additional 5,004 shares during the last quarter. United Services Automobile Association acquired a new stake in Interpublic Group of Companies during the first quarter worth $210,000. Focus Partners Wealth raised its holdings in shares of Interpublic Group of Companies by 100.3% in the 1st quarter. Focus Partners Wealth now owns 40,754 shares of the business services provider’s stock worth $1,107,000 after buying an additional 20,403 shares in the last quarter. California Public Employees Retirement System increased its position in Interpublic Group of Companies by 7.1% in the second quarter. California Public Employees Retirement System now owns 637,012 shares of the business services provider’s stock worth $15,594,000 after purchasing an additional 42,035 shares during the period. Finally, AXA S.A. boosted its stake in shares of Interpublic Group of Companies by 35.6% in the 2nd quarter. AXA S.A. now owns 15,873 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 4,163 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IPG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. UBS Group decreased their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Finally, Barclays dropped their price target on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.18.

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.