Interpublic Group of Companies, Inc. (The) Declares Quarterly Dividend of $0.33 (NYSE:IPG)

Key Points

• Interpublic Group of Companies, Inc. has declared a quarterly dividend of $0.33 per share, representing an annual dividend of $1.32 and a yield of 5.18%, with payment scheduled for September 16th.
• The company's payout ratio stands at 46.8%, indicating that its dividend is well-covered by earnings, as analysts predict earnings of $2.84 per share for the next year.
• Despite a recent 2.1% drop in stock price, the company reported $0.75 EPS for its last quarter, exceeding expectations, with a quarterly revenue of $2.17 billion.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Get Free Report) announced a quarterly dividend on Monday, July 28th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 0.33 per share by the business services provider on Tuesday, September 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.18%.

Interpublic Group of Companies has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interpublic Group of Companies to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 46.5%.

Interpublic Group of Companies Stock Down 2.1%

Shares of NYSE:IPG traded down $0.55 during trading on Monday, reaching $25.50. 3,130,688 shares of the company traded hands, compared to its average volume of 7,083,721. The firm has a fifty day simple moving average of $24.32 and a 200 day simple moving average of $25.64. The firm has a market cap of $9.34 billion, a P/E ratio of 21.61 and a beta of 1.05. 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.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the business earned $0.61 EPS. Interpublic Group of Companies's quarterly revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of Interpublic Group of Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth increased its holdings in 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 valued at $1,107,000 after buying an additional 20,403 shares during the period. United Services Automobile Association bought a new position in Interpublic Group of Companies in the 1st quarter valued at about $210,000. Finally, Integrated Wealth Concepts LLC increased its holdings in Interpublic Group of Companies by 62.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,061 shares of the business services provider's stock valued at $355,000 after buying an additional 5,004 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Citigroup reissued a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Finally, UBS Group lowered their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus price target of $32.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.