The trading price of The Interpublic Group of Companies Inc. (NYSE:IPG) closed lower on Monday, February 27, closing at $35.95, -0.72% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $35.86 and $36.53. The company’s P/E ratio in the trailing 12-month period was 15.13. In examining the 52-week price action we see that the stock hit a 52-week high of $39.52 and a 52-week low of $25.14. Over the past month, the stock has lost -0.08% in value.
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The Interpublic Group of Companies Inc., whose market valuation is $14.01 billion at the time of this writing, is expected to release its quarterly earnings report Apr 26, 2023 – May 01, 2023. The dividend yield on the company stock is 3.45%, while its Forward Dividend ratio is 1.24. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.34 per share this quarter, however they have predicted annual earnings per share of $2.87 for 2023 and $3.05 for 2024. It means analysts are expecting annual earnings per share growth of 4.40% this year and 6.30% next year.
Analysts have forecast the company to bring in revenue of $2.19 billion for the current quarter, with the likely lows of $2.18 billion and highs of $2.21 billion. The average estimate suggests sales will likely down by -1.50% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $9.74 billion. The company’s revenue is forecast to grow by 3.10% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of The Interpublic Group of Companies Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest IPG has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned IPG a recommendation rating is 13. Out of them, 8 rate it a Hold, while 5 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged The Interpublic Group of Companies Inc. (IPG) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.04, which symbolizes a positive outlook. A quick review shows that IPG’s price is currently -3.75% off the SMA20 and 0.83% off the SMA50. The RSI metric on the 14-day chart is currently showing 42.38, and weekly volatility stands at 1.50%. When measured over the past 30 days, the indicator reaches 2.16%. The Interpublic Group of Companies Inc. (NYSE:IPG)’s beta value is currently sitting at 1.11, while the Average True Range indicator is currently displaying 0.74. With analysts defining $37.00-$45.00 as the low and high price targets, we arrive at a consensus price target of $40.70 for the trailing 12-month period. The current price is about -2.92% off the estimated low and -25.17% off the forecast high, based on this estimate. Investors will be thrilled if IPG’s share price rises to $40.50, which is the median consensus price. At that level, IPG’s share price would be -12.66% below current price.
To see how The Interpublic Group of Companies Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: IPG stock’s performance was -0.72% in the latest trading, and -0.64% in the past year, while The Trade Desk Inc. (TTD) has traded 0.20% on the day and positioned -33.49% lower than it was a year ago. Another comparable company Gartner Inc. (IT) saw its stock close -1.49% lower in the most recent trading session but was up 16.35% in a year. Furthermore, WPP plc (WPP) showed an increase of 0.67% on the day while its price kept declining at -11.05% over the past year. The Interpublic Group of Companies Inc. has a P/E ratio of 15.13, compared to The Trade Desk Inc.’s 585.96 and Gartner Inc.’s 32.80. Also in last trading session, the S&P 500 Index has surged 0.31%, while the Dow Jones Industrial also saw a positive session, up 0.22% on the day.
An evaluation of the daily trading volume of The Interpublic Group of Companies Inc. (NYSE:IPG) indicates that the 3-month average is 3.10 million. However, this figure has increased over the past 10 days to an average of 2.63 million.
Currently, records show that 387.90 million of the company’s shares remain outstanding. The stats also highlight that short interest as of Jan 30, 2023, stood at 10.89 million shares, resulting in a short ratio of 3.76 at that time. From this, we can conclude that short interest is 2.80% of the company’s total outstanding shares. It is noteworthy that short shares in January were up slightly from the previous month’s figure, which was 10.58 million. However, since the stock’s price has seen 7.93% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.