Omnicom Group Inc. (OMC) Stock Price Down 2.3%
Omnicom Group Inc. (NYSE:OMC) shares traded down 2.3% during trading on Thursday . The company traded as low as $81.76 and last traded at $81.79, with a volume of 1,021,555 shares traded. The stock had previously closed at $83.68.
A number of research analysts have commented on the company. Telsey Advisory Group boosted their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research report on Sunday, July 17th. Albert Fried & Company reaffirmed a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research report on Thursday, July 14th. Zacks Investment Research lowered Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Wedbush reaffirmed a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Omnicom Group in a research report on Saturday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $80.92.
The company has a market capitalization of $19.55 billion and a P/E ratio of 18.08. The company’s 50-day moving average price is $82.47 and its 200 day moving average price is $79.74.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. The business earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Analysts predict that Omnicom Group Inc. will post $4.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors 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 2.66%. The ex-dividend date is Tuesday, September 20th.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $84.31, for a total transaction of $1,922,268.00. Following the completion of the sale, the chairman now directly owns 128,650 shares in the company, valued at $10,846,481.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Wren sold 35,104 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $82.35, for a total transaction of $2,890,814.40. Following the sale, the chief executive officer now owns 971,798 shares of the company’s stock, valued at $80,027,565.30. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in Omnicom Group during the fourth quarter worth about $1,142,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Omnicom Group by 1.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,828 shares of the company’s stock worth $1,198,000 after buying an additional 219 shares during the period. Tredje AP fonden boosted its stake in Omnicom Group by 0.4% in the fourth quarter. Tredje AP fonden now owns 16,813 shares of the company’s stock worth $1,280,000 after buying an additional 63 shares during the period. BHF Kleinwort Benson Group S.A. purchased a new stake in Omnicom Group during the fourth quarter worth about $1,495,000. Finally, Advantus Capital Management Inc boosted its stake in Omnicom Group by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 23,189 shares of the company’s stock worth $1,754,000 after buying an additional 584 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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