Citigroup Lowers WPP (LON:WPP) Price Target to GBX 275

Key Points

• Citigroup cut its price target for WPP from GBX 310 to GBX 275 and kept a "neutral" rating, with the new target implying about a 9.4% upside from the current share price.
• Weak financials: WPP reported GBX (20) EPS last quarter, has a negative net margin (-1.59%) and ROE (-7.54%), and carries a very high debt-to-equity ratio (334.84).
• Insider buying: Philip Jansen and Cindy Rose each purchased 50,000 shares in late February (at ~GBX 255–269), and company insiders now own 2.03% of the stock.

WPP (LON:WPP - Get Free Report) had its price target cut by equities research analysts at Citigroup from GBX 310 to GBX 275 in a report released on Thursday,London Stock Exchange reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential upside of 9.37% from the company's current price.

WPP Trading Down 1.8%

LON WPP opened at GBX 251.45 on Thursday. The company has a debt-to-equity ratio of 334.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of £2.71 billion, a price-to-earnings ratio of -12.57, a price-to-earnings-growth ratio of 13.47 and a beta of 0.60. The company's 50-day simple moving average is GBX 255.36 and its two-hundred day simple moving average is GBX 301.99. WPP has a one year low of GBX 218.50 and a one year high of GBX 616.20.

WPP (LON:WPP - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported GBX (20) EPS for the quarter. WPP had a negative net margin of 1.59% and a negative return on equity of 7.54%. Equities analysts forecast that WPP will post 81.6125654 EPS for the current fiscal year.

Insider Transactions at WPP

In other WPP news, insider Philip Jansen bought 50,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were acquired at an average price of GBX 255 per share, with a total value of £127,500. Also, insider Cindy Rose bought 50,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were acquired at an average cost of GBX 269 per share, for a total transaction of £134,500. Company insiders own 2.03% of the company's stock.

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.

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