Omnicom Group Inc. (OMC) Sees Strong Trading Volume
Omnicom Group Inc. (NYSE:OMC) shares saw unusually-high trading volume on Monday . Approximately 1,396,398 shares were traded during mid-day trading, an increase of 12% from the previous session’s volume of 1,245,782 shares.The stock last traded at $85.49 and had previously closed at $84.26.
OMC has been the subject of several recent research reports. Barclays PLC cut Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $82.00 to $90.00 in a report on Wednesday, April 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Albert Fried & Company reaffirmed a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Telsey Advisory Group increased their price target on Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $80.82.
The company has a 50-day moving average of $82.33 and a 200-day moving average of $81.21. The stock has a market capitalization of $20.17 billion and a price-to-earnings ratio of 18.65.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 14th. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.91 billion. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post $4.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.58%.
In other news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was 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 approximately $10,846,481.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Wren sold 35,104 shares of the company’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 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.
Several hedge funds have recently added to or reduced their stakes in OMC. Calvert Investment Management Inc. increased its stake in Omnicom Group by 9.2% in the fourth quarter. Calvert Investment Management Inc. now owns 353,058 shares of the company’s stock worth $26,712,000 after buying an additional 29,872 shares during the last quarter. American International Group Inc. increased its stake in Omnicom Group by 5.2% in the fourth quarter. American International Group Inc. now owns 4,941,763 shares of the company’s stock worth $373,894,000 after buying an additional 242,614 shares during the last quarter. BlackRock Advisors LLC increased its stake in Omnicom Group by 37.1% in the fourth quarter. BlackRock Advisors LLC now owns 955,499 shares of the company’s stock worth $72,293,000 after buying an additional 258,376 shares during the last quarter. KBC Group NV increased its stake in Omnicom Group by 7.4% in the fourth quarter. KBC Group NV now owns 31,086 shares of the company’s stock worth $2,352,000 after buying an additional 2,152 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its stake in Omnicom Group by 23.1% in the fourth quarter. State of Tennessee Treasury Department now owns 75,143 shares of the company’s stock worth $5,685,000 after buying an additional 14,101 shares during the last quarter.
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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