WPP PLC (NASDAQ:WPPGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “WPP reported stellar results for first-half 2017. The company performed in line with the industry year to date. 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. Healthy dividend payouts and accretive acquisition remain tailwinds. However, WPP operates in a highly competitive and fragmented communication services industry that limits its profitability. High concentration risk remains another potential headwind. Significant international operations expose the company to foreign exchange rate volatility. Growth worries in China, as well as soft growth in the mature markets of Western Continental Europe are likely to have adverse impacts on WPP’s revenues.”
Other research analysts also recently issued research reports about the stock. UBS AG began coverage on shares of WPP PLC in a research note on Tuesday, June 13th. They issued a “buy” rating on the stock. ValuEngine downgraded shares of WPP PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of WPP PLC from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Deutsche Bank AG downgraded shares of WPP PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, BNP Paribas downgraded shares of WPP PLC from an “outperform” rating to an “underperform” rating in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. WPP PLC has an average rating of “Hold” and an average price target of $121.50.
Shares of WPP PLC (NASDAQ:WPPGY) opened at 91.83 on Monday. The stock’s 50 day moving average is $98.34 and its 200-day moving average is $105.20. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 10.49 and a beta of 1.21. WPP PLC has a 52 week low of $89.40 and a 52 week high of $121.06.
WPP PLC (NASDAQ:WPPGY) last posted its quarterly earnings results on Wednesday, August 23rd. The business services provider reported $3.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.02. On average, equities analysts anticipate that WPP PLC will post $9.39 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of WPPGY. Huntington National Bank boosted its holdings in shares of WPP PLC by 62.6% in the 2nd quarter. Huntington National Bank now owns 1,179 shares of the business services provider’s stock valued at $124,000 after buying an additional 454 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of WPP PLC by 10.8% in the 2nd quarter. Sei Investments Co. now owns 1,231 shares of the business services provider’s stock valued at $130,000 after buying an additional 120 shares in the last quarter. Simplex Trading LLC boosted its holdings in shares of WPP PLC by 58.6% in the 2nd quarter. Simplex Trading LLC now owns 1,473 shares of the business services provider’s stock valued at $155,000 after buying an additional 544 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its holdings in shares of WPP PLC by 3.4% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 1,500 shares of the business services provider’s stock valued at $158,000 after buying an additional 50 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of WPP PLC in the 2nd quarter valued at about $162,000. Institutional investors own 3.80% of the company’s stock.
About WPP PLC
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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