Interpublic Group of Companies (NYSE:IPG) Shares Gap Down - Here's Why

Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $25.36, but opened at $24.67. Interpublic Group of Companies shares last traded at $24.95, with a volume of 742,372 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating on the stock. Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Citigroup restated a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $32.72.

Interpublic Group of Companies Trading Down 2.4%

The business has a fifty day moving average of $24.36 and a 200-day moving average of $25.92. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 18.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion for 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 was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.34%. Interpublic Group of Companies's dividend payout ratio is currently 100.76%.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of institutional investors have recently bought and sold shares of the stock. Gateway Investment Advisers LLC increased its stake in Interpublic Group of Companies by 94.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 23,417 shares of the business services provider's stock worth $573,000 after purchasing an additional 11,366 shares in the last quarter. Czech National Bank boosted its position in Interpublic Group of Companies by 5.6% during the 2nd quarter. Czech National Bank now owns 90,376 shares of the business services provider's stock worth $2,212,000 after acquiring an additional 4,816 shares during the period. Swedbank AB boosted its position in Interpublic Group of Companies by 10.6% during the 1st quarter. Swedbank AB now owns 680,466 shares of the business services provider's stock worth $18,481,000 after acquiring an additional 64,983 shares during the period. Intrua Financial LLC boosted its position in Interpublic Group of Companies by 18.5% during the 1st quarter. Intrua Financial LLC now owns 23,511 shares of the business services provider's stock worth $639,000 after acquiring an additional 3,672 shares during the period. Finally, Mattson Financial Services LLC boosted its position in Interpublic Group of Companies by 15.4% during the 1st quarter. Mattson Financial Services LLC now owns 35,510 shares of the business services provider's stock worth $964,000 after acquiring an additional 4,741 shares during the period. 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.