WPP (NYSE:WPP) Sets New 52-Week Low - Here's Why

Key Points

• WPP PLC's share price reached a new 52-week low of $23.77 during trading, closing at $23.99, indicating significant downward movement.
• Recent analyst ratings show a downward trend, with two analysts rating the stock as a "sell", while the consensus rating is "Reduce".
• The company announced a semi-annual dividend of $0.5033 per share, yielding a notable 1,060.0%, but has also cut its dividend recently.

WPP PLC (NYSE:WPP - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $23.77 and last traded at $23.99, with a volume of 372513 shares. The stock had previously closed at $24.04.

Analyst Ratings Changes

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

WPP Trading Down 0.2%

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88. The business has a 50-day moving average of $26.55 and a 200-day moving average of $33.48. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 4.02 and a beta of 0.97.

WPP Cuts Dividend

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

Hedge Funds Weigh In On WPP

A number of institutional investors have recently added to or reduced their stakes in WPP. Legacy Wealth Asset Management LLC boosted its stake in shares of WPP by 4.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 10,660 shares of the business services provider's stock valued at $373,000 after purchasing an additional 420 shares in the last quarter. Vident Advisory LLC boosted its position in WPP by 8.0% during the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock worth $235,000 after buying an additional 459 shares during the period. Assetmark Inc. boosted its position in WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after buying an additional 467 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of WPP by 1.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock worth $1,318,000 after purchasing an additional 498 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of WPP by 1.3% during the second quarter. Hantz Financial Services Inc. now owns 41,521 shares of the business services provider's stock worth $1,454,000 after purchasing an additional 553 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Company Profile

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.

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