Omnicom Group Inc. (OMC) Sets New 1-Year High at $86.83
Omnicom Group Inc. (NYSE:OMC) shares hit a new 52-week high on Monday . The company traded as high as $86.83 and last traded at $86.70, with a volume of 648,100 shares trading hands. The stock had previously closed at $86.25.
A number of brokerages have weighed in on OMC. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Telsey Advisory Group lifted their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. BMO Capital Markets reiterated a “hold” rating and set a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Finally, Albert Fried & Company reiterated a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $80.82.
The stock has a market capitalization of $20.51 billion and a P/E ratio of 18.96. The firm’s 50-day moving average is $83.57 and its 200-day moving average is $82.28.
Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.03. The firm earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company posted $1.26 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Omnicom Group Inc. will post $4.76 earnings per share for the current year.
The company also recently announced 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 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, September 20th.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the sale, the director now owns 30,440 shares of the company’s stock, valued at $2,573,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 128,650 shares in the company, valued at approximately $10,846,481.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Omnicom Group stock. State of Tennessee Treasury Department boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,143 shares of the company’s stock after buying an additional 14,101 shares during the period. State of Tennessee Treasury Department’s holdings in Omnicom Group were worth $5,685,000 as of its most recent SEC filing.
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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