Omnicom Group Inc. (OMC) Shares Down 1.6%
Omnicom Group Inc. (NYSE:OMC) fell 1.6% during mid-day trading on Thursday . The stock traded as low as $82.12 and last traded at $83.57, with a volume of 1,727,002 shares changing hands. The stock had previously closed at $84.96.
Several research firms have recently issued reports on OMC. Zacks Investment Research cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Albert Fried & Company reiterated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Thursday. Barclays PLC cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $82.00 to $90.00 in a research report on Wednesday, April 20th. Wedbush reiterated a “neutral” rating and set a $86.00 price objective (up previously from $85.00) on shares of Omnicom Group in a research report on Saturday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Omnicom Group from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $80.08.
The stock’s 50 day moving average price is $82.45 and its 200 day moving average price is $79.47. The company has a market capitalization of $19.76 billion and a PE ratio of 18.53.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business earned $1.26 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Omnicom Group Inc. will post $4.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.65%.
In other Omnicom Group news, CEO John Wren sold 35,104 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $82.35, for a total value of $2,890,814.40. Following the completion of the sale, the chief executive officer now directly owns 971,798 shares of the company’s stock, valued at approximately $80,027,565.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $84.31, for a total value of $1,922,268.00. Following the completion of the sale, the chairman now directly owns 128,650 shares of the company’s stock, valued at $10,846,481.50. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of OMC. Janus Capital Management increased its stake in shares of Omnicom Group by 20.9% in the third quarter. Janus Capital Management now owns 2,453,085 shares of the company’s stock worth $161,659,000 after buying an additional 424,241 shares during the period. Sei Investments Co. increased its stake in shares of Omnicom Group by 51.2% in the fourth quarter. Sei Investments Co. now owns 34,416 shares of the company’s stock worth $2,604,000 after buying an additional 11,661 shares during the period. First Trust Advisors LP increased its stake in shares of Omnicom Group by 112.0% in the fourth quarter. First Trust Advisors LP now owns 288,387 shares of the company’s stock worth $21,819,000 after buying an additional 152,374 shares during the period. TD Asset Management Inc. increased its stake in shares of Omnicom Group by 2.2% in the fourth quarter. TD Asset Management Inc. now owns 181,902 shares of the company’s stock worth $13,762,000 after buying an additional 3,909 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Omnicom Group by 95.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,636 shares of the company’s stock worth $1,486,000 after buying an additional 9,594 shares during the period.
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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