WPP plc (NYSE:WPP) Receives Consensus Rating of "Hold" from Brokerages - MarketBeat - Financial Daily News Site

WPP plc (NYSE:WPP) Receives Consensus Rating of "Hold" from Brokerages – MarketBeat

Shares of WPP plc (NYSE:WPP – Get Rating) have been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $961.25.

A number of analysts have commented on WPP shares. The Goldman Sachs Group lowered shares of WPP from a “buy” rating to a “neutral” rating in a research note on Sunday, April 10th. Zacks Investment Research raised shares of WPP from a “sell” rating to a “hold” rating in a report on Thursday, May 19th. Berenberg Bank lifted their price objective on shares of WPP from GBX 1,185 ($14.91) to GBX 1,230 ($15.48) in a report on Friday, April 29th. Morgan Stanley downgraded shares of WPP from an “equal weight” rating to an “underweight” rating in a report on Monday, May 23rd. Finally, Barclays downgraded shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Monday, March 14th.

Shares of WPP stock opened at $58.54 on Friday. The firm has a fifty day simple moving average of $63.26 and a two-hundred day simple moving average of $70.67. WPP has a 12 month low of $54.62 and a 12 month high of $83.69.

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The business also recently declared a semi-annual dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 10th will be issued a $1.2505 dividend. This is an increase from WPP’s previous semi-annual dividend of $0.87. This represents a dividend yield of 3%. The ex-dividend date is Thursday, June 9th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Prospera Financial Services Inc purchased a new stake in WPP during the first quarter valued at about $29,000. FSB Premier Wealth Management Inc. purchased a new stake in WPP during the fourth quarter valued at about $32,000. CWM LLC purchased a new stake in WPP during the fourth quarter valued at about $37,000. Liberty Wealth Management LLC purchased a new stake in WPP during the third quarter valued at about $41,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in WPP by 100.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 320 shares during the last quarter. 4.07% of the stock is currently owned by institutional investors and hedge funds.

About WPP (Get Rating)

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.

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