Interpublic Group of Companies Inc (NYSE:IPG)’s share price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.59, but opened at $21.67. Interpublic Group of Companies shares last traded at $22.70, with a volume of 9853101 shares traded.
The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada cut Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $28.00 to $24.00 in a report on Thursday, January 17th. Finally, Pivotal Research upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $22.00 to $25.00 in a report on Monday, January 7th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $25.44.
The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.61 and a beta of 1.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24.
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Interpublic Group of Companies Company Profile (NYSE:IPG)
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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