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Share Price Information for WPP (WPP)
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Share Price:
844.40
Bid:
844.00
Ask:
844.40
Change:
0.00 (0.00%)
Spread:
0.40 (0.047%)
Open:
844.60
High:
849.60
Low:
843.60
Prev. Close:
844.40
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Don't have an account? Click here to register.WPP expectations are too low, Deutsche Bank says
Mon, 01st Apr 2019 12:53
(Sharecast News) - WPP only needs to perform in line with its guidance for weak growth in 2019 to boost its shares, Deutsche Bank said on Monday."We think that expectations for WPP are now so low that even delivery of current guidance will be enough for the shares to enjoy a re-rating," the German bank said in a note to clients on Monday, though it is not forecasting a return to meaningful growth any time soon.Deutsche analysts upgraded to 'buy' with an unchanged target price of 1,010p, saying the structural concerns about the advertising the industry are "lifting"."At a certain point we think the question becomes: what is the right price to pay for the world's largest marketing services company? Despite all of the operational and management issues of the recent past, WPP continues to generate £1.1bn of annual equity free cash flow, which we think is not reflected in its £10bn market capitalisation."While cynics will say that estimates are simply wrong, given the structural and cyclical environment, the analysts think that, unless there is a major macro shock, estimates "have bottomed" and "all that the shares need" is for results to meet expectations to show the business is stabilising.New boss Mark Read has set low expectations, they feel, with the shares trading on a multi-year discount in terms of p/e and a 7% dividend yield, covered by both earnings and cash, to suggest downside risk is limited.Deutsche acknowledged there were not many signs that FMCG companies are increasing their marketing spend with agencies, but saw "hopeful indicators" that the cuts in recent years have bottomed out, with structural concerns over the industry "contradicted by the continued growth of the media agencies", with "little discernable effect" of the incursions by consulting firms or a shift to in-housing of marketing services. "Ultimately, marketing firms are people-based businesses and the staff who work in one agency-holding company are not markedly different from those employed at another, although their organisational structure may differ," the analysts said, noting that WPP is being valued by the market at $150,000 per employee, roughly 50-70% lower than Interpublic and Omnicom.
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20 Sep 2023 07:55
LONDON BRIEFING: Stocks to rise, pound falls as UK inflation eases
(Alliance News) - Stocks in London are expected to open in the green on Wednesday, as a cooler-than-expected UK inflation print helped to calm nerves ahead of an interest rate decision from the US later, with the Bank of England to follow on Thursday.
Read more18 Aug 2023 06:00
From Mad Men to machines? Big advertisers shift to AI
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Read more8 Aug 2023 09:25
LONDON BROKER RATINGS: Deutsche Bank cuts WPP to 'hold' from 'buy'
(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:
Read more8 Aug 2023 07:58
LONDON BRIEFING: abrdn assets fall; Spirax-Sarco CEO steps down
(Alliance News) - Stocks in London are called to open lower on Tuesday, following news that Germany's yearly inflation rate eased in July, with investors now nervously awaiting readings from China and the US later this week.
Read more7 Aug 2023 11:26
IN THE KNOW: Barclays sees turnaround for WPP in next two years
(Alliance News) - Barclays lowered its price target for WPP on Monday but left its 'overweight' rating unchanged, saying it viewed the company's annual guidance cut as a temporary "hiccup".
Read more7 Aug 2023 11:17
Director dealings: WPP non-exec invests, IG board members exercise options and sell
(Sharecast News) - Advertising giant WPP was on the list of director buys on Monday, after a non-executive director picked up 4,000 shares.
Read more7 Aug 2023 09:14
LONDON BROKER RATINGS: JPMorgan lifts Rolls-Royce; RBC cuts Unite
(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:
Read more4 Aug 2023 17:26
Two measures of global corporate health flash red
LONDON, Aug 4 (Reuters) - Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the U.S. tech sector were slashing their marketing spend.
Read more4 Aug 2023 17:21
European stocks end higher but mark first weekly loss in four
STOXX 600 posts first weekly loss in four
*Read more4 Aug 2023 17:06
UK's FTSE 100 boosted by energy stocks but logs weekly decline
WPP slides after FY guidance cut
*Read more4 Aug 2023 16:49
LONDON MARKET CLOSE: Stocks end in the green after difficult week
(Alliance News) - Stocks in London ended on a positive note on Friday, following a tumultuous couple of days following a US credit rating cut and another interest rate hike from the Bank of England.
Read more4 Aug 2023 12:04
LONDON MARKET MIDDAY: WPP shares slide; eyes on US nonfarms
(Alliance News) - Stock prices in London were mixed at midday Friday, though equity markets showed sighs of stability after a rocky week, ahead of a key US jobs report in the afternoon.
Read more4 Aug 2023 11:36
Two measures of corporate health flash red
LONDON, Aug 4 (Reuters) - Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the U.S. tech sector were slashing their marketing spend.
Read more4 Aug 2023 08:52
LONDON MARKET OPEN: WPP lowers outlook; Capita swings to loss
(Alliance News) - The FTSE 100 inched slightly higher on Friday, as investors nervously look ahead to the US nonfarm payrolls report at 1330 BST.
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