It looks like investors are running out of patience with Publicis Groupe’s lack of growth, which has been a problem for the last couple of years and is likely to continue to be an issue at least through 2020.
Publicis said as much yesterday when it released third-quarter results and noted that it would post an organic revenue decline for full-year 2019 and that growth would be challenging and tepid well into next year.
Investors aren’t happy and sent the stock south on Friday. It was down nearly 15% on the Paris Exchange. Several investment firms downgraded the stock this week including Morgan Stanley, Liberum Capital and Macquarie.
WPP shares were also down today more than 3% on the London exchange.
U.S. holding companies including IPG, Omnicom and MDC Partners, each had modest gains most likely benefiting from the Dow’s rebound Friday which was based on reports of a partial trade deal between the U.S. and China.