Interpublic Group of Companies (NYSE:IPG) Sees Strong Trading Volume - Here's Why

Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 10,965,451 shares were traded during trading, an increase of 93% from the previous session's volume of 5,696,232 shares.The stock last traded at $24.04 and had previously closed at $23.42.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $34.00 to $27.50 in a research note on Wednesday. Citigroup reissued a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Finally, Wall Street Zen began coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.72.

Interpublic Group of Companies Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The firm has a market cap of $8.97 billion, a PE ratio of 18.53 and a beta of 1.06. The firm's fifty day simple moving average is $24.24 and its two-hundred day simple moving average is $26.24.

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

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its holdings in shares of Interpublic Group of Companies by 5.1% in the first quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock worth $377,127,000 after buying an additional 674,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Interpublic Group of Companies by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock worth $374,304,000 after buying an additional 842,925 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock worth $363,584,000 after buying an additional 1,492,019 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Interpublic Group of Companies by 14.8% in the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock worth $287,618,000 after buying an additional 1,320,345 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Interpublic Group of Companies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock worth $266,614,000 after buying an additional 81,996 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

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.