Interpublic Group of Companies Given New $21.00 Price Target at Piper Jaffray (IPG)
Investment analysts at Piper Jaffray upped their price objective on shares of Interpublic Group of Companies (NYSE:IPG) to $21.00 in a note issued to investors on Tuesday. Piper Jaffray’s price target suggests a potential upside of 6.98% from the stock’s previous close.
A number of other analysts have also recently weighed in on IPG. Analysts at Zacks reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research note on Friday, April 25th. They now have a $18.00 price target on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Interpublic Group of Companies in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.65.
Shares of Interpublic Group of Companies (NYSE:IPG) traded up 0.25% during mid-day trading on Tuesday, hitting $19.68. 896,393 shares of the company’s stock traded hands. Interpublic Group of Companies has a one year low of $13.96 and a one year high of $19.70. The stock’s 50-day moving average is $18.0 and its 200-day moving average is $17.30. The company has a market cap of $8.338 billion and a P/E ratio of 28.41. Interpublic Group of Companies also was the recipient of unusually large options trading activity on Monday. Traders bought 14,536 put options on the stock. This represents an increase of approximately 335% compared to the typical volume of 3,343 put options.
Interpublic Group of Companies (NYSE:IPG) last released its earnings data on Tuesday, April 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Interpublic Group of Companies will post $1.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, May 30th.
The Interpublic Group of Companies, Inc (NYSE:IPG) is a global advertising and marketing services companies.
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