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

The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) - Equities researchers at Zacks Research raised their FY2024 earnings estimates for shares of Interpublic Group of Companies in a note issued to investors on Wednesday, May 15th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings of $2.65 per share for the year, up from their prior estimate of $2.56. 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' Q4 2024 earnings at $0.97 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.89 EPS and FY2025 earnings at $2.99 EPS.

A number of other brokerages have also recently commented on IPG. Barclays upped their price target on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. cut their target price 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. Finally, Wells Fargo & Company lowered 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 report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies has a consensus rating of "Hold" and a consensus price target of $35.13.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock traded up $0.15 during trading on Friday, hitting $31.78. The stock had a trading volume of 2,861,058 shares, compared to its average volume of 3,901,103. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average is $31.61 and its two-hundred day moving average is $31.61. Interpublic Group of Companies has a 1 year low of $27.20 and a 1 year high of $40.95. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13.

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

Institutional Trading of Interpublic Group of Companies

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Interpublic Group of Companies by 12.1% during the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider's stock valued at $459,975,000 after buying an additional 1,516,975 shares during the period. Black Creek Investment Management Inc. boosted its holdings in shares of Interpublic Group of Companies by 14.1% during the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider's stock worth $278,649,000 after purchasing an additional 1,204,630 shares during the period. Norges Bank bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $32,620,000. American Century Companies Inc. increased its holdings in Interpublic Group of Companies by 24.6% during the 3rd quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider's stock valued at $132,852,000 after purchasing an additional 916,574 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in Interpublic Group of Companies by 101.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider's stock valued at $55,162,000 after purchasing an additional 853,287 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Insider Transactions at Interpublic Group of Companies

In related news, EVP Andrew Bonzani sold 40,468 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,303,069.60. Following the completion of the transaction, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction of $4,842,976.60. Following the completion of the sale, the chief executive officer now directly owns 415,776 shares in the company, valued at approximately $13,387,987.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Bonzani sold 40,468 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,303,069.60. Following the completion of the transaction, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,646 shares of company stock valued at $8,038,601. 0.42% of the stock is currently owned by corporate insiders.

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.