59.92 -0.06 (-0.09%)
After hours: 4:26PM EDT
|Bid||59.94 x 1000|
|Ask||59.97 x 800|
|Day's Range||59.57 - 60.26|
|52 Week Range||50.31 - 70.94|
|Beta (3Y Monthly)||0.96|
|PE Ratio (TTM)||6.07|
|Forward Dividend & Yield||3.84 (6.53%)|
|1y Target Est||62.00|
NEW YORK, Oct. 10, 2019 /PRNewswire/ -- Dan Bennett, Worldwide Chief Innovation Officer, Grey Group, today announced the promotion of Kenny Gold to SVP, Director of Social Media for Grey North America.
Martin Sorrell's S4 Capital has bought Silicon Valley's biggest independent agency, Firewood, for $150 million in its latest deal to form a purely digital global advertising firm. The world's best-known advertising boss is building up the new venture following his departure from ad giant WPP, sealing deals for digital content that runs on platforms like Facebook and Google, and the automated placing of ads online. Sorrell said digital growth was "on fire" and his focus on it meant he was currently involved in five large pitches.
Rating Action: Moody's assigns B1 rating to the Senior Secured Notes Issued by Summer (BC) Holdco B S.a r.l. London, 07 October 2019 -- Moody's Investors Service ("Moody's") has today assigned a B1 rating to the USD250 million equivalent EUR senior secured notes (due 2026) being issued by Summer (BC) Holdco B S.à r.l.
(Bloomberg Opinion) -- In the glossary of business jargon there’s a term beloved by financial analysts but that journalists find especially grating: the “equity story.”It’s the sort of non-speak that can be explained far more simply: Why should you invest in a given company? That’s something that WPP Plc Chief Executive Officer Mark Read, an operations guy, has yet to answer adequately when it comes to the firm he took over a year ago from Martin Sorrell, something of a finance wonk.The task should sit at the top of priorities for John Rogers, the retail executive appointed as WPP’s new finance chief on Tuesday. That’s not to say that Read hasn’t been busy since taking the helm of the world’s largest advertising holding company. He’s clinched deals to sell assets worth 3.6 billion pounds ($4.4 billion), merged divisions to cut costs and improve efficiency, and stanched some of the revenue declines in North America. The share price has recovered to outperform archrival Publicis Groupe SA since Read announced 2021 growth targets in December.But the London-based company’s shares are still trailing its other major peers — Omnicom Group, Interpublic Group and Dentsu Inc. — when compared to expectations for earnings a year out. Investors are hungry to understand just how WPP’s new guard will translate all of that action into solid, durable growth.Read’s predecessor Sorrell had a seemingly straightforward formula to deliver just that. He promised investors annual earnings per share growth of between 5% and 10%, a pledge he tended to keep until recent years. He did so with a personal recipe of strict targets for organic revenue growth, profitability improvements, stock buybacks and acquisitions and a little sugar on top, a 50% dividend payout ratio. The approach kept shareholders happy and the stock steadily ticking upwards for years.Echoing that formula isn’t realistic in the current era. A shift toward digital marketing on platforms such as Google and Facebook and the incursion of consultancies into the advertising market means dependable revenue growth is far harder to realize. And knuckling down on costs can make it yet harder still. In an attempt to keep the focus clear, Read changed WPP’s bonus policy to place greater emphasis on sales growth than profitability improvements.Rogers, who will join from U.K. grocer J Sainsbury Plc where he had been CFO for 6 years, has a difficult act to follow at WPP. Paul Richardson had a lower public profile than Sorrell, but he led WPP’s finance operations for 23 years. The firm generated an average return of 10% a year in that period.Rogers’s more recent background running Sainsbury’s Argos general-merchandise retail division, which it acquired in 2016, should serve him well, according to media consultant Alex DeGroote. It’s given him valuable experience integrating businesses and managing a vast property portfolio. But a lack of experience in the advertising industry and in North America mean he’s unlikely to be tasked with fixing WPP’s operations in the U.S. and Canada, where revenue declines have dragged down the rest of WPP.His main role will therefore be to help Read crystallize a realistic vision for the company that can reinvigorate investors. Optimism is currently muted: analysts’ average 12-month target price is just 8% above the level at which WPP is currently trading. If Read is making the necessary operational improvements, Rogers needs to help turn that into a better story.To contact the author of this story: Alex Webb at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
WPP (WPP) today announces the appointment of John Rogers as Chief Financial Officer. John is currently Chief Executive Officer of Sainsbury’s Argos, where he has overseen the digital transformation of one of the UK’s leading technology-driven businesses. He was Chief Financial Officer of J Sainsbury plc from 2010 to 2016, responsible for business strategy, new business development, Sainsbury’s Online, operational efficiency and Sainsbury’s Bank, in addition to core finance functions.
Moody's Investors Service ("Moody's") has today assigned a B2 corporate family rating (CFR) and a B2-PD probability of default rating (PDR) to Summer (BC) Lux Consolidator S.a.r.l., the top-entity of the ring-fenced group that will ultimately own Kantar's (a global market leading data, research, consulting and analytics business) US and rest of World (RoW) controlling entities, under the ultimate joint ownership of Bain Capital and WPP plc. The agency has assigned B1 ratings to the USD2.5 billion equivalent of Senior Secured Term Loan B and the USD400 million of Revolving Credit Facility (RCF) being issued by Summer (BC) Bidco B LLC and Summer (BC) Holdco B S.à r.l., subsidiaries under the Summer (BC) Lux Consolidator group. Additionally, Moody's expects to assign a Caa1 rating to the USD525 million equivalent EUR senior unsecured notes to be issued by RoW Holdco A, another group subsidiary.
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...
KING OF PRUSSIA, Pa. , Sept. 26, 2019 /PRNewswire/ -- Adweek Magazine has announced that CMI Media, part of WPP (NYSE: WPP), is on its exclusive global list of 100 fastest-growing agencies. CMI Media, ...
Cotton Council International (CCI) has appointed Hill+Knowlton Strategies (H+K) as its global communications partner. H+K will establish the U.S. Cotton Trust Protocol and communicate U.S. cotton’s sustainability credentials on a global scale. Bruce Atherley, CCI Executive Director, said, “The entire selection committee was overwhelmingly impressed by H+K’s thoroughness and attention to detail.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of WPP Plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
CINCINNATI, Sept. 16, 2019 /PRNewswire/ -- Grey Midwest, a leading advertising agency in Cincinnati, is the first full-year city chapter partner with Together Digital, formerly Women in Digital. Together Digital defines their mission as being "an association dedicated to accelerating the advancement and growth of women in digital fields by giving women the most powerful tool in their arsenal: one another." This is a mission Grey Midwest has committed to putting significant focus and resources behind this year and beyond. Grey Midwest has signed on as the inaugural full year "Adopt-A-City" partner for Together Digital's Cincinnati chapter at monthly meetups.
Twelve leaders across WPP have been recognised in the 2019 HERoes Women Role Model Lists, supported by Yahoo Finance.
Ogilvy Health, part of Ogilvy (www.ogilvy.com), today announced Michael Zilligen, Market Access Practice Lead, has been named to the “PharmaVOICE 100 Most Inspiring People in the Life Sciences Industry” list by premier healthcare communications trade publication PharmaVOICE. Mr. Zilligen was selected for this year’s roster in the Change Agents category for his deep knowledge and expertise in the ever-evolving payer landscape.
WPP (WPP) and InMobi Group have entered into a long-term strategic partnership to build unique benefits for marketers. Leveraging the best of expertise from InMobi Group and WPP agencies, including GroupM and Kantar, the partnership aims to simplify complexity for Indian marketers. The collaboration between WPP and InMobi Group will enable brands to create personalized consumer experiences at scale.
DEARBORN, Mich. , Sept. 10, 2019 /PRNewswire/ -- GTB, a global, industry-leading communications agency, announced today the appointment of Kurt Kulas as EVP, head of production North America at Makerhouse ...
NEW YORK, Sept. 10, 2019 /PRNewswire/ -- Michael Houston, Worldwide CEO of Grey Group, today announced the appointment of Nirvik Singh as COO of Grey Group, a new global position. A thirty-year veteran of Grey, Nirvik Singh has served as Chairman and CEO of Grey Group Asia Pacific, Middle East and Africa since 2016, a post he will retain, headquartered in Singapore.
Ogilvy Health, part of Ogilvy (www.ogilvy.com), today announced the advancement of seven creative team members across the agency’s New Jersey and New York offices. Samantha Dolin, Chief Creative Officer, Ogilvy Health North America, shared her enthusiasm for the growth within her department.