As of May 17, 2023, shares of Interpublic Group of Companies (NYSE:IPG) opened at $36.18, with a fifty-day simple moving average of $35.98 and a two-hundred-day simple moving average of $35.00. The company’s current ratio stands at 1.03 with a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.
With a market capitalization of $13.97 billion plus a price-to-earnings ratio of 15.66, the firm has a PEG ratio sitting at 1.59 and a beta score of 1.12.
Over the last year, Interpublic Group of Companies has seen its stock trade in the range between $25.14 to $39.52 while several other brokerages have also weighed in on IPG’s outlook, including JP Morgan Chase & Co., which upgraded its target price from $38 to $39 per share.
In contrast, StockNews.com downgraded its rating to sell from hold; meanwhile Citigroup lifted its price target to buy,a research note previously suggested extension from an older level set on February 14.
In other news, Andrew Bonzani who is Evp sold more than thirty-eight thousand shares worth over one million dollars on Wednesday March first; following that transaction he now owns more than one hundred eleven thousand shares valued over three million nine hundred eighty thousand dollars disclosing his sale through SEC documents accessible via their website.
Similarly, Christopher F Carroll cashed out sixteen thousand five hundred seven shares worth about six hundred thousand dollars on March first for which he received thirty-five point five-four dollars per-share which added up brought more than half-a-million worth into his portfolio bringing his record to own roughly fifty-five thousand and four-hundred six share equivalent to almost two million dollar holdings as noted by company disclosures.
Moreover, over the last three months, insiders at the company have sold 91,779 shares of company stock worth $3,250,936.00 with corporate insiders currently owning just 0.33% of the stock.
On April 27th, Interpublic Group of Companies (NYSE:IPG) posted its quarterly earnings data, disclosing an earnings per share figure of $0.38 for the quarter – $0.07 better than analysts’ expectations. During that period the business services provider pulled in revenues amounting to $2.52 billion compared to the $2.19 billion analyst estimates predicted with transparency by Bloomberg’s Tracking Technology.
For the time being and based on this available data aggregate metrics conclude a consensus rating of “hold” with an IPG target price hovering around $40.50 – attesting to moderate optimism from Wall Street regarding the outlook in tomorrow’s trading session and beyond for shareholders who hold public positions in one of America’s largest marketing luminary entities.
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Institutional Investors Show Growing Interest in Interpublic Group of Companies as Q2 2023 Earnings Estimations Increase
Interpublic Group of Companies (IPG) is a global leader in advertising and marketing services. According to the latest estimates by Zacks Research, IPG’s Q2 2023 earnings per share (EPS) are expected to be $0.61, which is up from their previous estimate of $0.60. Moreover, Zacks Research has issued other estimates for FY2023 earnings at $2.95 EPS and FY2024 earnings at $3.16 EPS, highlighting the expected steady growth of the company.
While several hedge funds have recently added to or reduced their stakes in IPG, institutional investors own 96.75% of the company’s stock. Spire Wealth Management lifted its stake in the company during the fourth quarter and now owns 1,153 shares of IPG worth $38,000 after acquiring an additional 264 shares during that period. Czech National Bank also raised its stake during the first quarter and now owns 45,750 shares worth $1,704,000 after buying an additional 266 shares.
Apart from these two institutional investors, ETF Managers Group LLC raised its stake by 1.5% in the same quarter while Rockefeller Capital Management L.P. increased theirs by as much as 22.2% during Q4 2023 alone with both companies owning thousands of shares each worth hundreds of thousands of dollars combined.
Meiji Yasuda Asset Management Co Ltd has also shown growth when it comes to their holdings in Interpublic Group of Companies raising their own stake by a healthy 2.8%. This resulted in them owning around twelve thousand shares worth a hefty three hundred ninety-one thousand dollars each.
All these figures indicate that there is still much interest among institutional investors for IPG stocks despite market challenges and uncertainties brought on by recent events which could keep this global advertising powerhouse on track for long-term growth and success beyond our wildest expectations in years to come!
