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

The Interpublic Group of Companies, Inc. (NYSE:IPG) announced a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Monday, December 2nd will be given a dividend of 0.33 per share by the business services provider on Monday, December 16th. This represents a $1.32 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, December 2nd.

Interpublic Group of Companies has raised its dividend by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 13 years. Interpublic Group of Companies has a payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Interpublic Group of Companies to earn $2.88 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 45.8%.

Interpublic Group of Companies Trading Down 0.1 %

IPG stock traded down $0.03 during midday trading on Wednesday, hitting $30.00. The stock had a trading volume of 466,740 shares, compared to its average volume of 3,913,007. The business has a fifty day moving average price of $31.29 and a two-hundred day moving average price of $30.72. Interpublic Group of Companies has a 1-year low of $27.84 and a 1-year high of $35.17. The firm has a market cap of $11.32 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 4.97 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.51%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. On average, sell-side analysts predict that Interpublic Group of Companies will post 2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPG. Bank of America dropped their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Company Profile

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.