WPP (LON:WPP) Shares Down 18.8% - Here's What Happened

Shares of WPP plc (LON:WPP - Get Free Report) were down 18.8% on Wednesday . The company traded as low as GBX 426 ($5.75) and last traded at GBX 428.60 ($5.78). Approximately 16,481,002 shares were traded during mid-day trading, an increase of 92% from the average daily volume of 8,598,831 shares. The stock had previously closed at GBX 527.60 ($7.12).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their price objective on shares of WPP from GBX 590 ($7.96) to GBX 480 ($6.48) and set a "neutral" rating on the stock in a report on Thursday.

WPP Stock Down 2.9%

The stock's 50-day moving average is GBX 554.35 and its 200-day moving average is GBX 632.21. The stock has a market cap of £4.54 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 13.47 and a beta of 1.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 215.67.

WPP Company Profile

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities. At WPP we're reinventing creativity on an ever-broader canvas, bringing together unrivalled talent, resources and skills to provide an integrated offer of communications, experience, commerce and technology for clients.