Boston, MA 10/30/2013 (wallstreetpr) – After and before posting its Q3.13 results October 18, Interpublic Group of Companies Inc (NYSE:IPG) has been a subject of several equities analysts. At least 21 analysts have echoed their sentiments about the stock. The latest to comment on the stock are analysts at FBR Capital Markets who initiated their overage on the stock on Tuesday with a “market perform” rating. Analysts at Thomson Reuters/Verus on Monday issued a hold rating on the stock, indicating a downgrade from their previous buy rating on Interpublic stock. Analysts at Zacks issued a neutral rating on Interpublic in a note to investors published October 22. The rating agency has $17 price target on the stock.
So far, nine analysts have issued a hold rating on Interpublic, while 12 have issued a buy rating on the stock. As such, Wall Street has a buy label on the stock and $16.39 on the price target sticker. But the question is whether the New York-based advertising and marketing services provider will live up to these expectations when it reports in full-year.
The company’s share currently trade at $16.62 in NYSE after gaining 1.71% in Tuesday’s regular session trading. The company reported $0.17 earnings a share in Q3.13 released October 18, marginally missing analysts’ estimate of $0.18. In a year ago, Interpublic earned $0.15 per share. The revenue for the just reported quarter was $1.70 billion. The consensus revenue estimate for the quarter was $1.71 billion. As such, the revenue missed the Wall Street expectation by $0.01 billion. Compared against a year ago, the latest revenue indicates 1.8% growth. Wall Street now expects the company to post $0.82 earnings per share in the current fiscal year.
The global advertising and marketing company witnessed positive activity on its shares on Tuesday, gaining $0.28 per share to close up $16.62 in regular trading. It however dipped in the after hours, shedding $0.03 per share.