Key Points
- For S&P 500 companies that fell short of Wall Street’s Q2 forecasts, macroeconomic weakness, soft demand and cost inflation are common themes.
- Interpublic Group of Companies fell short on revenue, impacted by macro uncertainty that caused clients to spend cautiously during the period.
- In the back half of the year, IPG is expected to return to top line growth thanks to some large new business wins.
- Equifax reported slightly lower-than-expected revenue, leading to a $20 share price selloff that extended to a 15% downturn last week.
- Equifax is trading at 23x next year’s earnings estimate - well below its five-year average P/E ratio of 30x, a reversion to which implies 30% upside.
- 5 stocks we like better than Interpublic Group of Companies
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