WPP plc (NYSE:WPP) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of WPP plc (NYSE:WPP) have earned an average recommendation of “Reduce” from the five brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $46.00.

A number of research analysts have issued reports on WPP shares. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. UBS Group lowered WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th.

WPP Price Performance

Shares of WPP opened at $50.94 on Friday. The stock has a fifty day moving average price of $46.84 and a 200 day moving average price of $46.35. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. WPP has a 12 month low of $41.13 and a 12 month high of $59.28.

WPP Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be issued a $0.244 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a dividend yield of 5.3%.

Institutional Trading of WPP

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of WPP by 40.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock valued at $54,974,000 after purchasing an additional 332,914 shares during the last quarter. FMR LLC lifted its holdings in shares of WPP by 7.1% during the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock valued at $43,365,000 after purchasing an additional 64,087 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of WPP by 47.9% during the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock valued at $27,003,000 after purchasing an additional 183,955 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of WPP by 5.1% during the first quarter. Raymond James & Associates now owns 185,454 shares of the business services provider’s stock valued at $8,790,000 after purchasing an additional 8,930 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of WPP during the fourth quarter valued at $7,486,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.