Interpublic Group of Companies (NYSE:IPG) Issues Earnings Results, Beats Expectations By $0.02 EPS

Interpublic Group of Companies (NYSE:IPG) issued its quarterly earnings data on Monday. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02, Zacks reports. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share.

Interpublic Group of Companies Trading Up 0.1%

Interpublic Group of Companies stock traded up $0.04 during trading hours on Wednesday, reaching $25.39. 1,090,101 shares of the company’s stock were exchanged, compared to its average volume of 6,730,429. The firm’s 50 day simple moving average is $26.35 and its 200 day simple moving average is $25.41. Interpublic Group of Companies has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market capitalization of $9.30 billion, a PE ratio of 21.52 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78.

Institutional Investors Weigh In On Interpublic Group of Companies

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in Interpublic Group of Companies by 62.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,061 shares of the business services provider’s stock worth $355,000 after acquiring an additional 5,004 shares in the last quarter. United Services Automobile Association purchased a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $210,000. Focus Partners Wealth increased its stake in shares of Interpublic Group of Companies by 100.3% during the first quarter. Focus Partners Wealth now owns 40,754 shares of the business services provider’s stock valued at $1,107,000 after buying an additional 20,403 shares during the period. California Public Employees Retirement System lifted its position in shares of Interpublic Group of Companies by 7.1% in the 2nd quarter. California Public Employees Retirement System now owns 637,012 shares of the business services provider’s stock worth $15,594,000 after purchasing an additional 42,035 shares during the period. Finally, AXA S.A. boosted its holdings in Interpublic Group of Companies by 35.6% in the second quarter. AXA S.A. now owns 15,873 shares of the business services provider’s stock worth $389,000 after acquiring an additional 4,163 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IPG. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Barclays dropped their price objective on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. UBS Group decreased their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Finally, Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.