Wpp Plc (NYSE:WPP) announced a semiannual dividend on Wednesday, September 5th, Wall Street Journal reports. Stockholders of record on Friday, October 5th will be given a dividend of 1.4595 per share by the business services provider on Monday, November 5th. This represents a dividend yield of 3.93%. The ex-dividend date is Thursday, October 4th. This is a positive change from WPP’s previous semiannual dividend of $1.45.
WPP has a dividend payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WPP to earn $8.33 per share next year, which means the company should continue to be able to cover its $4.94 annual dividend with an expected future payout ratio of 59.3%.
Shares of WPP traded down $0.12 during mid-day trading on Thursday, reaching $74.10. The company’s stock had a trading volume of 1,919 shares, compared to its average volume of 97,847. WPP has a 1-year low of $73.66 and a 1-year high of $103.53. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 2.44 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.63.
A number of brokerages have recently weighed in on WPP. JPMorgan Chase & Co. reiterated a “buy” rating on shares of WPP in a research note on Monday, July 23rd. Pivotal Research lowered WPP from a “buy” rating to a “hold” rating in a research note on Monday, June 4th. Zacks Investment Research upgraded WPP from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Moffett Nathanson began coverage on WPP in a research note on Tuesday, June 19th. They set a “neutral” rating on the stock. Finally, ValuEngine upgraded WPP from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 23rd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $107.00.
WPP Company Profile
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
See Also: Price to Earnings Ratio (PE)
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