Zacks Research Research Analysts Reduce Earnings Estimates for The Interpublic Group of Companies, Inc. (NYSE:IPG)

The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) - Analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for shares of Interpublic Group of Companies in a research note issued to investors on Wednesday, May 15th. Zacks Research analyst R. Department now forecasts that the business services provider will post earnings per share of $0.63 for the quarter, down from their previous forecast of $0.68. The consensus estimate for Interpublic Group of Companies' current full-year earnings is $2.78 per share. Zacks Research also issued estimates for Interpublic Group of Companies' Q3 2024 earnings at $0.69 EPS, Q1 2026 earnings at $0.74 EPS and FY2026 earnings at $3.16 EPS.

Several other brokerages have also recently commented on IPG. Barclays increased their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Wells Fargo & Company decreased their price target on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.13.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG traded down $0.14 during mid-day trading on Thursday, hitting $31.63. 2,769,882 shares of the stock were exchanged, compared to its average volume of 3,912,051. The company has a market cap of $11.94 billion, a P/E ratio of 11.26, a PEG ratio of 2.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $40.95. The stock's fifty day simple moving average is $31.63 and its two-hundred day simple moving average is $31.60.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year.

Institutional Trading of Interpublic Group of Companies

Hedge funds have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Interpublic Group of Companies in the fourth quarter valued at approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in Interpublic Group of Companies during the 4th quarter worth $31,000. Authentikos Wealth Advisory LLC acquired a new stake in Interpublic Group of Companies during the 3rd quarter worth $33,000. Tobam raised its stake in Interpublic Group of Companies by 2,340.0% during the 4th quarter. Tobam now owns 1,098 shares of the business services provider's stock worth $36,000 after buying an additional 1,053 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in Interpublic Group of Companies by 2,024.6% in the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider's stock valued at $42,000 after acquiring an additional 1,235 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares of the company's stock, valued at approximately $1,364,958. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Interpublic Group of Companies news, CEO Philippe Krakowsky sold 150,403 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares of the company's stock, valued at $13,387,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher F. Carroll sold 18,382 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock worth $8,038,601 over the last ninety days. Company insiders own 0.42% 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.