Solid 2Q Performance by IPG; Expect a Weaker Second Half; Maintaining $26 FVE; Shares Undervalued
IPG reported another healthy quarter with in line net revenue and earnings higher than consensus expectations. Strong top-line growth was driven by impressive total organic growth, while the higher-margin Acxiom business, along with continuing cost control, helped the bottom line. Management now expects 2019 organic growth to come in at the high end of its previously guided 2%-3%, implying a revenue decline in the second half given tougher comps and a few account losses in late 2018. IPG also ma...Interpublic Group of Companies is an advertising and marketing services company. The company's segment include: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). Within IAN, the company's agencies provide an array of communications and marketing services, each providing a range of solutions for its clients. In addition, the company's domestic integrated agencies provide a range of advertising, marketing communications services and/or marketing services and partner with its operating divisions as needed. CMG provides clients with services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and marketing consulting.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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