Wpp Plc (NYSE:WPP) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on WPP, with two sell, three hold and two buy recommendations among seven firms.
• WPP shares opened at $26.99, near their 52-week high of $27.78, while trading above both their 50-day and 200-day moving averages.
• The company declared a $0.5052 per-share dividend payable November 2 to shareholders of record October 9, while institutional investors own 4.34% of the stock.

Shares of Wpp Plc (NYSE:WPP - Get Free Report) have received an average rating of "Hold" from the seven ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company.

A number of equities research analysts have weighed in on WPP shares. Citigroup reiterated a "neutral" rating on shares of WPP in a research note on Monday. Rothschild & Co Redburn assumed coverage on shares of WPP in a research note on Thursday, May 28th. They issued a "buy" rating for the company. Berenberg Bank began coverage on shares of WPP in a report on Tuesday, June 9th. They set a "buy" rating for the company. The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a "sell" rating on the stock. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of WPP in a research note on Tuesday, June 16th.

WPP Stock Up 0.4%

WPP opened at $26.99 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.89 and a current ratio of 0.87. WPP has a 1 year low of $14.81 and a 1 year high of $27.78. The stock's 50 day simple moving average is $19.37 and its 200-day simple moving average is $18.33.

WPP Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a $0.5052 dividend. This represents a dividend yield of 390.0%. The ex-dividend date is Friday, October 9th.

Hedge Funds Weigh In On WPP

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Range Financial Group LLC bought a new position in WPP during the 1st quarter valued at about $1,147,000. Renaissance Technologies LLC acquired a new position in WPP in the first quarter valued at about $1,619,000. Arrowstreet Capital Limited Partnership bought a new stake in WPP during the first quarter worth about $609,000. M&T Bank Corp increased its holdings in shares of WPP by 344.9% during the fourth quarter. M&T Bank Corp now owns 52,491 shares of the business services provider's stock worth $1,179,000 after buying an additional 40,693 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its holdings in shares of WPP by 1.5% during the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider's stock worth $72,775,000 after buying an additional 48,714 shares in the last quarter. Institutional investors own 4.34% of the company's stock.

WPP Company Profile

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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