Shore Capital Reiterates Buy Rating for WPP (LON:WPP)

Shore Capital reaffirmed their buy rating on shares of WPP (LON:WPP) in a report issued on Wednesday morning, MarketBeat Ratings reports.

A number of other equities analysts also recently commented on WPP. Deutsche Bank Aktiengesellschaft decreased their price target on WPP from GBX 998 ($12.75) to GBX 990 ($12.65) and set a buy rating for the company in a research note on Friday, June 28th. Citigroup reaffirmed a buy rating on shares of WPP in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of GBX 920 ($11.76).

WPP Stock Down 5.3 %

LON WPP traded down GBX 38.20 ($0.49) during trading hours on Wednesday, reaching GBX 678.80 ($8.67). 1,968,084 shares of the company traded hands, compared to its average volume of 2,677,657. The stock has a market capitalization of £7.33 billion, a PE ratio of 3,572.63, a PEG ratio of 13.47 and a beta of 1.14. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 190.55. WPP has a 12 month low of GBX 656 ($8.38) and a 12 month high of GBX 856.80 ($10.95). The company has a 50 day moving average of GBX 741.90 and a two-hundred day moving average of GBX 760.71.

WPP Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a GBX 15 ($0.19) dividend. The ex-dividend date is Thursday, October 10th. This represents a yield of 2.09%. WPP’s payout ratio is currently 20,526.32%.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.