Interpublic Group of Companies (NYSE:IPG) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPG - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $35.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider's stock.

Several other brokerages have also issued reports on IPG. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen initiated coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a "hold" rating for the company. Finally, Citigroup reiterated a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Interpublic Group of Companies presently has an average rating of "Hold" and an average price target of $32.06.

Interpublic Group of Companies Price Performance

IPG traded down $0.24 during midday trading on Thursday, hitting $24.76. The stock had a trading volume of 5,409,953 shares, compared to its average volume of 5,909,582. The company has a market cap of $9.15 billion, a P/E ratio of 18.90 and a beta of 1.05. The business has a fifty day moving average of $24.35 and a 200 day moving average of $25.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies has a 1 year low of $22.51 and a 1 year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. Interpublic Group of Companies's revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, equities analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.33%. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in IPG. Jones Financial Companies Lllp raised its holdings in shares of Interpublic Group of Companies by 69.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock valued at $204,000 after acquiring an additional 2,991 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $2,325,000. AlphaQuest LLC raised its holdings in shares of Interpublic Group of Companies by 100.5% during the fourth quarter. AlphaQuest LLC now owns 13,793 shares of the business services provider's stock valued at $386,000 after acquiring an additional 6,915 shares in the last quarter. Vestcor Inc raised its holdings in shares of Interpublic Group of Companies by 2,031.5% during the fourth quarter. Vestcor Inc now owns 125,907 shares of the business services provider's stock valued at $3,528,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Interpublic Group of Companies by 12.1% during the fourth quarter. Frank Rimerman Advisors LLC now owns 13,915 shares of the business services provider's stock valued at $390,000 after acquiring an additional 1,498 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

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.