Interpublic Group of Companies (NYSE:IPG) announced that its board has authorized a stock repurchase program, which allows the company to buyback $300.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Interpublic Group of Companies (IPG) remained flat at $$23.44 during mid-day trading on Wednesday. 4,428,464 shares of the stock traded hands, compared to its average volume of 6,191,251. The firm has a market capitalization of $9,120.00, a price-to-earnings ratio of 17.11, a P/E/G ratio of 2.09 and a beta of 1.31. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.58. Interpublic Group of Companies has a 1-year low of $18.30 and a 1-year high of $26.01.
Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.35% and a return on equity of 27.07%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. analysts expect that Interpublic Group of Companies will post 1.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, February 28th. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.18. Interpublic Group of Companies’s dividend payout ratio (DPR) is 61.31%.
Several research firms have commented on IPG. Morgan Stanley upped their target price on shares of Interpublic Group of Companies to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. BMO Capital Markets raised their target price on shares of Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Pivotal Research restated a “buy” rating and issued a $26.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, January 23rd. Wells Fargo & Co downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Interpublic Group of Companies currently has a consensus rating of “Hold” and an average target price of $25.92.
In related news, CFO Frank Mergenthaler sold 50,000 shares of Interpublic Group of Companies stock in a transaction on Monday, March 12th. The shares were sold at an average price of $23.82, for a total value of $1,191,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher F. Carroll sold 21,000 shares of Interpublic Group of Companies stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $23.62, for a total transaction of $496,020.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 448,258 shares of company stock valued at $10,563,009. 1.49% of the stock is owned by company insiders.
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Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
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