Wpp Plc (WPPGY) Upgraded at Zacks Investment Research
Wpp Plc (NASDAQ:WPPGY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $102.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.57% from the stock’s previous close.
According to Zacks, “WPP is one of the largest advertising companies in the world and has accumulated a vast portfolio of global and regional brands. 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. The company is committed to return value to its shareholders through steady payment of dividends and stock repurchases. Dividends for first half 2017 represented an increase of 16.1% over the previous year with a payout ratio of 50%. However, the company underperformed the industry year to date. WPP is also weighed down by the economic fragility due to the Brexit referendum, political instability in the Middle East and a striking slowdown in the Chinese economy.”
WPPGY has been the topic of a number of other reports. BNP Paribas downgraded Wpp Plc from an “outperform” rating to an “underperform” rating in a research note on Friday, July 7th. Deutsche Bank AG downgraded Wpp Plc from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub downgraded Wpp Plc from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley downgraded Wpp Plc from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $116.00.
Wpp Plc (NASDAQ:WPPGY) traded down 3.339% during midday trading on Tuesday, reaching $86.811. The company’s stock had a trading volume of 154,695 shares. The stock has a market cap of $21.98 billion, a P/E ratio of 9.667 and a beta of 1.20. The stock’s 50 day moving average is $92.17 and its 200 day moving average is $101.85. Wpp Plc has a 12-month low of $86.81 and a 12-month high of $119.12.
Wpp Plc (NASDAQ:WPPGY) last announced its earnings results on Wednesday, August 23rd. The business services provider reported $3.02 earnings per share for the quarter, meeting the consensus estimate of $3.02. Analysts anticipate that Wpp Plc will post $9.39 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the stock. First Republic Investment Management Inc. raised its holdings in Wpp Plc by 47.2% during the fourth quarter. First Republic Investment Management Inc. now owns 17,550 shares of the business services provider’s stock worth $1,942,000 after purchasing an additional 5,628 shares during the last quarter. Creative Planning raised its holdings in Wpp Plc by 97.9% during the fourth quarter. Creative Planning now owns 10,410 shares of the business services provider’s stock worth $1,194,000 after purchasing an additional 5,150 shares during the last quarter. Saturna Capital acquired a new position in Wpp Plc during the third quarter worth $57,000. Geode Capital Management LLC raised its holdings in Wpp Plc by 11.6% during the first quarter. Geode Capital Management LLC now owns 12,846 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 1,332 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Wpp Plc by 7.6% during the third quarter. World Asset Management Inc now owns 17,213 shares of the business services provider’s stock worth $2,026,000 after purchasing an additional 1,210 shares during the last quarter. 3.83% of the stock is 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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