WPP (LON:WPP) Trading Down 15.8% – Here’s What Happened

WPP plc (LON:WPP) dropped 15.8% during mid-day trading on Thursday . The stock traded as low as GBX 616.60 ($7.82) and last traded at GBX 648.87 ($8.23). Approximately 10,108,823 shares changed hands during trading, an increase of 294% from the average daily volume of 2,562,713 shares. The stock had previously closed at GBX 770.20 ($9.77).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their target price on WPP from GBX 1,040 ($13.19) to GBX 960 ($12.18) and set a “neutral” rating on the stock in a research report on Tuesday, January 7th.

WPP Stock Down 15.8 %

The firm’s fifty day moving average is GBX 775.33 and its two-hundred day moving average is GBX 783.46. The firm has a market cap of £6.99 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 13.47 and a beta of 1.13. The company has a debt-to-equity ratio of 215.67, a current ratio of 0.89 and a quick ratio of 0.89.

WPP (LON:WPP) last issued its quarterly earnings results on Thursday, February 27th. The company reported GBX 50.30 ($0.64) earnings per share for the quarter. WPP had a net margin of 1.37% and a return on equity of 5.92%. On average, sell-side analysts expect that WPP plc will post 81.6125654 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joanne Wilson sold 8,794 shares of WPP stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of GBX 860 ($10.91), for a total transaction of £75,628.40 ($95,914.27). 0.22% of the stock is currently owned by insiders.

WPP Company Profile

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

At WPP we’re reinventing creativity on an ever-broader canvas, bringing together unrivalled talent, resources and skills to provide an integrated offer of communications, experience, commerce and technology for clients.