The Interpublic Group of Companies, Inc. (NYSE:IPG) Declares $0.33 Quarterly Dividend

The Interpublic Group of Companies, Inc. (NYSE:IPG) announced a quarterly dividend on Wednesday, July 31st, Wall Street Journal reports. Stockholders of record on Tuesday, September 3rd will be paid a dividend of 0.33 per share by the business services provider on Tuesday, September 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Interpublic Group of Companies has raised its dividend payment by an average of 6.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Interpublic Group of Companies has a payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Interpublic Group of Companies to earn $2.97 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 44.4%.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock traded up $0.20 during trading on Wednesday, hitting $32.17. The stock had a trading volume of 14,836,931 shares, compared to its average volume of 4,036,064. The business has a fifty day moving average of $29.97 and a two-hundred day moving average of $31.21. The firm has a market cap of $12.08 billion, a P/E ratio of 11.38, a PEG ratio of 3.32 and a beta of 1.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. Interpublic Group of Companies has a fifty-two week low of $27.20 and a fifty-two week high of $35.24.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. Interpublic Group of Companies’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. On average, sell-side analysts expect that Interpublic Group of Companies will post 2.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on IPG. Barclays dropped their price target on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Bank of America decreased their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Macquarie cut their price target on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.13.

About Interpublic Group of Companies

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.