
Interpublic (IPG) Stock Tumbles After Reporting Q2 Results
NEW YORK (TheStreet) -- Shares of Interpublic Group of Cos. (IPG) - Get Report are falling 6.19% to $22.73 on heavy trading volume midday Thursday after the New York-based company reported in-line earnings, but slightly lower-than-expected revenue for the 2016 second quarter.
Before today's market open, the advertising and marketing company said revenue increased 2.2% to $1.92 billion year-over-year. Analysts were projecting revenue of $1.93 billion.
Adjusted earnings of 33 cents per share matched analysts' forecasts.
"Despite increased macro uncertainty, the tone of the business remains sound," CEO Michael Roth said in a statement.
"Going forward, we will stay vigilant in terms of costs, and continue to focus on achieving the appropriate levels of profit conversion," he added.
For fiscal 2016, IPG sees organic revenue growth at the upper end of its previous outlook of 3% to 4%.
About 11.43 million of the company's shares changed hands so far today compared to its average volume of 4.22 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, solid stock price performance, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: IPG










