Omnicom Group Inc. (OMC) Hits New 1-Year High at $86.28
Shares of Omnicom Group Inc. (NYSE:OMC) hit a new 52-week high on Wednesday . The company traded as high as $86.28 and last traded at $84.68, with a volume of 424,877 shares. The stock had previously closed at $84.67.
OMC has been the subject of several research analyst reports. BMO Capital Markets restated a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research report on Sunday, July 17th. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Albert Fried & Company restated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research report on Thursday, July 14th. Finally, Telsey Advisory Group upped their price target on shares of Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.82.
The company has a 50-day moving average of $83.19 and a 200 day moving average of $81.76. The firm has a market cap of $19.96 billion and a P/E ratio of 18.46.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 14th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.33 by $0.03. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.91 billion. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. Equities research analysts forecast that Omnicom Group Inc. will post $4.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 20th.
In related news, Chairman Bruce Crawford sold 22,800 shares of the business’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 transaction of $1,922,268.00. Following the completion of the transaction, the chairman now owns 128,650 shares in the company, valued at $10,846,481.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Linda Johnson Rice sold 824 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the transaction, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of OMC. BNP Paribas Arbitrage SA boosted its position in shares of Omnicom Group by 39.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 65,089 shares of the company’s stock worth $4,925,000 after buying an additional 18,385 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Omnicom Group by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 780,332 shares of the company’s stock worth $59,045,000 after buying an additional 19,650 shares in the last quarter. American International Group Inc. boosted its position in shares of 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 in the last quarter. Finally, KBC Group NV boosted its position in shares of 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 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.
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