Omnicom Group Inc. (OMC) Reaches New 52-Week High at $86.28
Omnicom Group Inc. (NYSE:OMC) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $86.28 and last traded at $84.68, with a volume of 424,877 shares trading hands. The stock had previously closed at $84.67.
A number of research firms have recently issued reports on OMC. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Albert Fried & Company reissued a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Telsey Advisory Group upped their target price on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research note on Sunday, July 17th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and an average price target of $80.82.
The company has a 50-day moving average of $83.00 and a 200-day moving average of $81.72. The stock has a market capitalization of $20.05 billion and a P/E ratio of 18.54.
Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.03. The company earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Omnicom Group’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Omnicom Group Inc. will post $4.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 22nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.20 annualized dividend and a dividend yield of 2.60%.
In related news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $84.31, for a total value of $1,922,268.00. Following the sale, the chairman now directly owns 128,650 shares of the company’s stock, valued at $10,846,481.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Omnicom Group by 12.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,925 shares of the company’s stock valued at $5,820,000 after buying an additional 8,325 shares in the last quarter. American International Group Inc. boosted 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 valued at $373,894,000 after buying an additional 242,614 shares in the last quarter. KBC Group NV boosted 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 valued at $2,352,000 after buying an additional 2,152 shares in the last quarter. State of Tennessee Treasury Department boosted 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 valued at $5,685,000 after buying an additional 14,101 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Omnicom Group by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 780,332 shares of the company’s stock valued at $59,045,000 after buying an additional 19,650 shares in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.