WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
  • TickerWPP
  • ISINJE00B8KF9B49
  • ExchangeLondon Stock Exchange
  • SectorMedia
  • CountryJersey

Analysts

Ahmed Ben Salem ...
  • Alfred Glaser
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Nicolas David
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/15/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Nicolas David
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/07/2019

...

Jerôme Bodin

WPP : Divestment of 60% of Kantar to Bain Capital

>Divestment of Kantar based on a 8.2x EBITDA - On Friday, WPP announced the divestment of 60% of Kantar’s capital (~15% of group sales) to Bain Capital based on a valuation of £ 3.2bn. The operation reveals a multiple of 8.2x 2018 EBITDA, i.e. close to that observed for Publicis’ acquisition of Epsilon. This should enable WPP to obtain £ 2.5bn in cash after tax, of which £ 1bn earmarked for shareholder returns (mode of payment not known for the time being). The remain...

Jerôme Bodin

WPP : Cession de 60% de Kantar à Bain Capital

>Cession de Kantar sur la base d’un ratio de 8,2x l’EBITDA - WPP a annoncé vendredi la cession de 60% du capital de Kantar (~15% de son CA) à Bain Capital sur la base d’une valorisation de 3,2 Md£. Celle-ci représente un multiple de 8,2x l’EBITDA 2018, soit à peu près celui constaté pour l’acquisition d’Epsilon par Publicis. Elle va permettre à WPP d’obtenir 2,5 Md£ de cash après impôts dont 1 Md£ sera retourné aux actionnaires (mode non connu à ce stade). Le reliquat...

Ali Mogharabi

Morningstar | WPP to Sell Kantar Stake to Bain Capital; Maintaining GBX 1,450 FVE; Shares Undervalued

WPP, which is on our Best Idea list, announced the sale of a stake in Kantar to Bain Capital Private Equity which represented a total enterprise value of Kantar at GBP 3.2 billion. While this is below the GBP 4 billion Kantar valuation we had estimated, our GBX 1,450 fair value estimate for WPP will not be impacted. Although the WPP share price has increased more than 14% year to date, we continue to view this narrow moat name as attractive. WPP and Bain have agreed that WPP will retain a 40% stake in Kantar and will continue to have access to Kantar data utilized to design and launch higher R...

WPP Plc: Update to credit analysis

CORPORATES CREDIT OPINION 2 January 2018 Update RATINGS WPP Plc Domicile United Kingdom Long Term Rating Not Available Type Not Available Outlook Not Available Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Christian Azzi +44.20.7772.5470

WPP Lowers Net Sales Guidance for 2017

    ISSUER COMMENT  CORPORATES   AUGUST 28, 2017    WPP Lowers Net Sales Guidance for 2017  From  Credit Outlook   Last Wednesday,  WPP Plc  (Baa2 stable) reported first-half 2017 results that were weaker than the  company had expected. Rep

WPP Plc: Reduced guidance for 2017 is credit negative

CORPORATES ISSUER COMMENT 24 August 2017 Contacts Christian Azzi 44-20-7772-5470 AVP-Analyst [email protected] Ivan Palacios 34-91-768-8229 Associate Managing Director [email protected] Danilo Ruocco +44-20-7772-1966 Associate Analyst [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100 EMEA

WPP Plc: Key Facts and Statistics - FY December 2016

CORPORATES ISSUER PROFILE 20 July 2017 TABLE OF CONTENTS Company Overview 1 Business Description 2 Management Strategy 3 Financial Highlights 4 Capital Structure and Debt Maturity 6 Company Management 7 Ownership Structure 9 Subsidiaries 9 Subsidiaries Rated by Moody’s 9 Peer Group

Jerôme Bodin

WPP : Divestment of 60% of Kantar to Bain Capital

>Divestment of Kantar based on a 8.2x EBITDA - On Friday, WPP announced the divestment of 60% of Kantar’s capital (~15% of group sales) to Bain Capital based on a valuation of £ 3.2bn. The operation reveals a multiple of 8.2x 2018 EBITDA, i.e. close to that observed for Publicis’ acquisition of Epsilon. This should enable WPP to obtain £ 2.5bn in cash after tax, of which £ 1bn earmarked for shareholder returns (mode of payment not known for the time being). The remain...

Jerôme Bodin

WPP : Cession de 60% de Kantar à Bain Capital

>Cession de Kantar sur la base d’un ratio de 8,2x l’EBITDA - WPP a annoncé vendredi la cession de 60% du capital de Kantar (~15% de son CA) à Bain Capital sur la base d’une valorisation de 3,2 Md£. Celle-ci représente un multiple de 8,2x l’EBITDA 2018, soit à peu près celui constaté pour l’acquisition d’Epsilon par Publicis. Elle va permettre à WPP d’obtenir 2,5 Md£ de cash après impôts dont 1 Md£ sera retourné aux actionnaires (mode non connu à ce stade). Le reliquat...

Ali Mogharabi

Morningstar | WPP to Sell Kantar Stake to Bain Capital; Maintaining GBX 1,450 FVE; Shares Undervalued

WPP, which is on our Best Idea list, announced the sale of a stake in Kantar to Bain Capital Private Equity which represented a total enterprise value of Kantar at GBP 3.2 billion. While this is below the GBP 4 billion Kantar valuation we had estimated, our GBX 1,450 fair value estimate for WPP will not be impacted. Although the WPP share price has increased more than 14% year to date, we continue to view this narrow moat name as attractive. WPP and Bain have agreed that WPP will retain a 40% stake in Kantar and will continue to have access to Kantar data utilized to design and launch higher R...

Ali Mogharabi

WPP to Sell Kantar Stake to Bain Capital; Maintaining GBX 1,450 FVE; Shares Undervalued

WPP, which is on our Best Idea list, announced the sale of a stake in Kantar to Bain Capital Private Equity which represented a total enterprise value of Kantar at GBP 3.2 billion. While this is below the GBP 4 billion Kantar valuation we had estimated, our GBX 1,450 fair value estimate for WPP will not be impacted. Although the WPP share price has increased more than 14% year to date, we continue to view this narrow moat name as attractive. WPP and Bain have agreed that WPP will retain a 40% st...

Jerôme Bodin

ODDO : Technological oligopolisation, rather than consultancies, is the real threat

>Let’s be clear, consultancies are not the main threat - In this update, we are reviewing the risk posed by consultancies (Accenture, Deloitte, PWC etc.) to advertising agencies. The consensus currently sees these consulting firms as the main threat to the industry and a major culprit for the current slowdown in growth experienced by agencies. We reiterate our stance that this risk is very much overdone. IT services companies are not, as yet, competitive enough t...

1 director maiden bought

A director at WPP maiden bought 8,000 shares at 951p and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Nicolas David
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/15/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Nicolas David
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/07/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Samantha Jeary
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/12/2019

After the strong margin compression in H1 2019, European steelmaker fundamentals are likely to remain complicated in H2. The lack of visibility as to the timing of a recovery is likely to deter investors from returning to the segment despite historically low valuations. We reiterate our Buy rating on ArcelorMittal, which is the most exposed to spot prices (“the first to pick up”). Conversely, we downgrade Voestalpine, which fully played its role as the most defensive stock in the turm...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Samantha Jeary
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/07/2019

Nous tablons sur un S1 2019 difficile, pénalisé par des effets de base et des conditions climatiques volatiles. Nous confirmons notre hiérarchie sectorielle, les prises de profits pré-publication pourraient permettre de se repositionner, à bon compte, sur le secteur des Matériaux alors que celui de la Construction/Concessions pourrait constituer un refuge. Saint-Gobain et Eiffage restent nos valeurs préférées. - Cf. étude publiée hier soir après la clôture. - ...

Emmanuel Matot ...
  • Jerôme Bodin
  • Sylvain Goyon

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/26/2019

On 8 March, we signalled that the market was ahead of its transition times and that it was consequently set to decelerate. Since then, the Stoxx 600 has trended within a narrow corridor, with our target of December 2019 (384) forming the upper limit and the lower limit formed by the linearisation of the latter (368 points for June). The recent rebound sees us return to the upper limit … without much hope of a significant progression beyond. No prospect of an acceleration of the pace o...

WPP PLC. with less fundamental stars is reduced to Neutral

WPP PLC. (GB), a company active in the Media Agencies industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date July 2, 2019, the closing price was GBp 990.00 and its expected value was estimated at GBp 963.26.

Ng Adrian

WPP Group

Ng Adrian

WPP Group

Ng Adrian

WPP Group

Ng Adrian

WPP Group

Expert Corporate Governance Service (ECGS)

WPP PLC June 12 2019

Following an internal investigation into allegations of misconduct, CEO Martin Sorrell retired from the Board in April 2018 as a ogood leaver retaining entitlement to certain incentives from the Company valued at £16m. Under the remuneration policy, he is not entitled to a severance payment. The Company has demonstrated a lack of transparency in its refusal to disclose the nature of the allegations and the reasons why Sorrell is considered a ogood leaverpin the face of the investigation. Furthermore, while the Company has stated that the amounts involved in the alleged misconduct were onot mat...

WPP PLC – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jérôme VINERIER

Analyse court terme - WPP LN : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 834,47 p, puis 758,60 p. Le franchissement de 1 021,79 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - WPP LN : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at 834.47 p, then 758.60 p. Passing 1,021.79 p would question the continuation of the fall.

Jérôme VINERIER

Short term view - WPP LN : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at 834.47 p, then 758.60 p. Passing 1,021.79 p would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - WPP LN : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 834,47 p, puis 758,60 p. Le franchissement de 1 021,79 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Medium term view - WPP LN : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at 831.41 p, then 621.43 p. Passing 1,297.50 p would question the continuation of the fall.

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