WPP (NYSE:WPP) Sets New 1-Year Low - Here's Why

Key Points

• WPP PLC's stock reached a new 52-week low, trading at $24.21 as of midday Friday, down from a previous close of $25.75.
• Despite its recent struggles, some analysts have upgraded their ratings, with Wall Street Zen changing WPP's rating from "sell" to "hold" on September 13th.
• The company announced a semi-annual dividend of $0.5033 per share, reflecting a notable yield of 1,060.0%, with a payout ratio of 8.21%.

WPP PLC (NYSE:WPP - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $24.21 and last traded at $24.52, with a volume of 227155 shares traded. The stock had previously closed at $25.75.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Barclays reaffirmed an "underweight" rating on shares of WPP in a research note on Friday, August 8th. Wall Street Zen lowered WPP from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, WPP currently has a consensus rating of "Reduce".

WPP Stock Performance

The company has a fifty day moving average of $26.78 and a 200 day moving average of $33.73. The stock has a market cap of $5.19 billion, a P/E ratio of 4.03 and a beta of 0.97. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88.

WPP Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.5033 per share. This represents a yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's payout ratio is 8.21%.

Institutional Trading of WPP

A number of hedge funds have recently made changes to their positions in the stock. Assetmark Inc. increased its stake in WPP by 88.3% in the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after buying an additional 467 shares during the period. Osaic Holdings Inc. boosted its holdings in WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider's stock worth $49,000 after purchasing an additional 717 shares in the last quarter. Traub Capital Management LLC acquired a new position in WPP during the second quarter worth $52,000. Blue Trust Inc. lifted its position in shares of WPP by 41.9% in the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider's stock worth $70,000 after buying an additional 588 shares during the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of WPP by 3,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock valued at $73,000 after acquiring an additional 1,863 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.