WPP (LON:WPP) Shares Down 15.1% – Here’s What Happened

Shares of WPP plc (LON:WPP) dropped 15.1% during trading on Thursday . The company traded as low as GBX 616.60 ($7.75) and last traded at GBX 654 ($8.22). Approximately 45,559,234 shares changed hands during trading, an increase of 1,229% from the average daily volume of 3,427,357 shares. The stock had previously closed at GBX 770.20 ($9.69).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective on shares of WPP from GBX 1,040 ($13.08) to GBX 960 ($12.07) and set a “neutral” rating on the stock in a research note on Tuesday, January 7th.

WPP Price Performance

The company has a market cap of £6.94 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 13.47 and a beta of 1.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 215.67. The company has a fifty day moving average price of GBX 767.73 and a two-hundred day moving average price of GBX 782.95.

WPP (LON:WPP) last released its quarterly earnings data on Thursday, February 27th. The company reported GBX 50.30 ($0.63) earnings per share for the quarter. WPP had a return on equity of 5.92% and a net margin of 1.37%. As a group, equities research analysts anticipate that WPP plc will post 81.6125654 EPS for the current fiscal year.

Insider Activity

In other news, insider Joanne Wilson sold 8,794 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of GBX 860 ($10.81), for a total transaction of £75,628.40 ($95,106.14). 0.22% of the stock is owned by corporate insiders.

About WPP

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.