WPP (LON:WPP) Shares Down 15.7% – Here’s What Happened

WPP plc (LON:WPP) shares dropped 15.7% on Thursday . The company traded as low as GBX 616.60 ($7.82) and last traded at GBX 649.40 ($8.24). Approximately 47,374,742 shares changed hands during trading, an increase of 1,265% from the average daily volume of 3,471,637 shares. The stock had previously closed at GBX 770.20 ($9.77).

Wall Street Analyst Weigh In

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

WPP Stock Down 15.8 %

The stock has a market cap of £6.99 billion, a PE ratio of 34.28, a PEG 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. The company has a 50 day moving average price of GBX 775.33 and a two-hundred day moving average price of GBX 783.46.

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

Insiders Place Their Bets

In related news, insider Joanne Wilson sold 8,794 shares of the 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). Company insiders own 0.22% of the company’s stock.

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.