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WPP

WPP

$70.18

2.06 (3.02%)

08:20
10/25/18
10/25
08:20
10/25/18
08:20

WPP reports Q3 reported revenue down 0.8% to GBP3.76B

Third quarter reported revenue down 0.8% at GBP 3.758 billion, impacted by currency headwinds of 2.0%. Constant currency revenue up 1.2%, like-for-like revenue up 0.2%. Third quarter constant currency revenue less pass-through costs down 0.9%, like-for-like revenue less pass-through costs down 1.5%. Nine months reported revenue down 1.6% at GBP 11.251 billion. Nine months constant currency revenue up 2.3%, like-for-like revenue up 1.1%. Nine months constant currency revenue less pass-through costs up 0.7%, like-for-like revenue less pass-through costs down 0.3%. Net debt at 30 September down GBP 925 million compared with same period last year, following disposal of certain non-core assets and an improvement in net working capital. Net new business of $4.0 billion in first nine months. CEO Martin Read commented: "Turning around WPP requires decisive action and radical thinking, and our performance in the third quarter of 2018 reinforces our belief in that approach... As previously stated, our industry is facing structural change, not structural decline, but in the past we have been too slow to adapt, become too complicated and have under-invested in core parts of our business. There is much to do and we have taken a number of critical actions to address these legacy issues and improve our performance."

WPP WPP
$70.18

2.06 (3.02%)

06/04/18
PIVT
06/04/18
DOWNGRADE
PIVT
Hold
WPP downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded WPP to Hold from Buy following the stock's recent move above his prior price target of 1330p. He maintains a positive long-term view on WPP, but thinks downside risks will remain top-of-mind for investors in the near-term. Wieser lowered his price target on WPP shares to 1230p from 1330p.
06/05/18
BREN
06/05/18
DOWNGRADE
BREN
Sell
WPP downgraded to Sell from Hold at Berenberg
Berenberg analyst Alastair Reid downgraded WPP to Sell and lowered his price target for the shares to 1,075p from 1,275p. The company's operational performance in Q1 is below peers, especially in North America, Reid tells investors in a research note. The analyst expects WPP's situation to get worse before improving amidst the management change.
06/19/18
MOFT
06/19/18
INITIATION
MOFT
Neutral
WPP initiated with a Neutral at MoffettNathanson
10/25/18
PIVT
10/25/18
UPGRADE
PIVT
Buy
WPP upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded WPP to Buy while lowering his price target for the shares to 1030p from 1060p. The analyst sees a "compelling value" with today's 20% stock decline following the company's "weak" Q3 results and 2018 outlook.

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TOL

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$38.34

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FLNT

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TOL

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CDAY

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IT

Gartner

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