Today’s news: Sell Interpublic Group (IPG)
Interpublic Group of Companies (IPG – yield 3.4%*) reported a strong third quarter that pleased the market on October 19. Despite a subsequent, modest increase in 2018 earnings estimates, the 2019 consensus estimate remains unchanged, now reflecting just 4.6% expected earnings growth. (Yes, that number could still be revised upward, but it’s far too low for a modest revision to change my mind.) I’m therefore ready to sell IPG from the Growth & Income Portfolio. Sell.
*The next ex-dividend date will be approximately November 30.