Zacks Investment Research upgraded shares of WPP PLC (NASDAQ:WPPGY) from a sell rating to a hold rating in a research note published on Monday, September 11th.
According to Zacks, “WPP reported stellar results for first-half 2017. The company performed in line with the industry year to date. A geographically superior position in new markets and functional strength in new media and data investment management will likely help WPP in achieving steady revenue growth. Healthy dividend payouts and accretive acquisition remain tailwinds. However, WPP operates in a highly competitive and fragmented communication services industry that limits its profitability. High concentration risk remains another potential headwind. Significant international operations expose the company to foreign exchange rate volatility. Growth worries in China, as well as soft growth in the mature markets of Western Continental Europe are likely to have adverse impacts on WPP’s revenues.”
WPPGY has been the subject of a number of other reports. UBS AG started coverage on WPP PLC in a report on Tuesday, June 13th. They set a buy rating for the company. BNP Paribas downgraded WPP PLC from an outperform rating to an underperform rating in a research note on Friday, July 7th. ValuEngine downgraded WPP PLC from a buy rating to a hold rating in a research note on Friday, June 2nd. BidaskClub downgraded WPP PLC from a hold rating to a sell rating in a research note on Saturday, June 10th. Finally, Deutsche Bank AG downgraded WPP PLC from a buy rating to a hold rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. WPP PLC presently has a consensus rating of Hold and an average price target of $121.50.
WPP PLC (WPPGY) opened at 93.83 on Monday. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 10.67 and a beta of 1.21. The stock’s 50 day moving average price is $96.65 and its 200-day moving average price is $104.17. WPP PLC has a one year low of $89.40 and a one year high of $121.06.
WPP PLC (NASDAQ:WPPGY) last issued its earnings results on Wednesday, August 23rd. The business services provider reported $3.02 EPS for the quarter, meeting analysts’ consensus estimates of $3.02. On average, equities research analysts anticipate that WPP PLC will post $9.39 earnings per share for the current fiscal year.
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The firm also recently announced a semiannual dividend, which will be paid on Monday, November 6th. Shareholders of record on Friday, October 6th will be issued a dividend of $1.4532 per share. The ex-dividend date is Thursday, October 5th. This represents a yield of 3.15%.
Several institutional investors have recently added to or reduced their stakes in WPPGY. Arrowstreet Capital Limited Partnership increased its holdings in shares of WPP PLC by 63.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 486,156 shares of the business services provider’s stock worth $51,246,000 after purchasing an additional 189,567 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of WPP PLC by 41.1% in the second quarter. JPMorgan Chase & Co. now owns 209,996 shares of the business services provider’s stock worth $22,136,000 after purchasing an additional 61,156 shares during the period. Lenox Wealth Management Inc. bought a new position in WPP PLC in the second quarter valued at $2,676,000. Delphi Management Inc. MA increased its stake in WPP PLC by 96.8% in the second quarter. Delphi Management Inc. MA now owns 44,793 shares of the business services provider’s stock valued at $4,813,000 after acquiring an additional 22,037 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in WPP PLC by 8.5% in the second quarter. First Trust Advisors LP now owns 227,823 shares of the business services provider’s stock valued at $24,015,000 after acquiring an additional 17,928 shares during the last quarter. 3.80% of the stock is currently owned by hedge funds and other institutional investors.
WPP PLC Company Profile
WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.
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