Business

Notable Stock News to Watch: The Interpublic Group of Companies (NYSE:IPG)

The Interpublic Group of Companies (NYSE:IPG) spotted trading -39.64% off 52-week high price. On the other end, the stock has been noted 30.78% away from the low price over the last 52-weeks. The stock changed -8.59% to recent value of $15.21. The stock transacted 6300481 shares during most recent day however it has an average volume of 4.76M shares. The company has 424.29M of outstanding shares and 385.22M shares were floated in the market.

On March 26, 2020, The Interpublic Group of Companies (NYSE:IPG) said  that, in light of significant macroeconomic uncertainty resulting from the severity of the COVID-19 crisis, and the unknown magnitude and duration of its impact, it is appropriate to withdraw the company’s previously issued financial performance targets for full-year 2020.

The impact of COVID-19 has continued in recent weeks to grow around the world in human tragedy and macroeconomic cost, said Michael Roth, Chairman and CEO of IPG. We remain focused on protecting the health and safety of our employees around the world, serving our clients, and supporting our communities.

Our strategic strengths continue through this challenging period, Mr. Roth continued, notably our best-in-class talent, client-centric culture, differentiated go-to-market strategy, industry-leading data management capabilities, and deep relevance of our offerings. Nonetheless, in the current environment, visibility into marketing and media spend is extremely challenging. Our company’s balance sheet and liquidity are strong, and consistent with past practices we will look for opportunities to further enhance our financial condition. Our company has a long track record of navigating successfully through uncertain economic periods due to the strength of our talent and operating disciplines that are in full force, servicing our clients and rigorously managing our flexible cost base. We have multiple cost levers to align expenses with changes in revenue and our operators are executing as appropriate on both the revenue and expense sides.

Its earnings per share (EPS) expected to touch remained 5.40% for this year while earning per share for the next 5-years is expected to reach at 0.40%. IPG has a gross margin of 14.60% and an operating margin of 10.20% while its profit margin remained 6.40% for the last 12 months.

According to the most recent quarter its current ratio was 0.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -11.93% from the mean of 20 days, -27.88% from mean of 50 days SMA and performed -29.93% from mean of 200 days price. Company’s performance for the week was 21.49%, -30.23% for month and YTD performance remained -34.16%.

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