Omnicom Group’s (OMC) Hold Rating Reiterated at RBC Capital Markets
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Omnicom Group from a sell rating to a hold rating in a research note on Monday, September 12th. Telsey Advisory Group upped their price target 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. Royal Bank Of Canada initiated coverage on shares of Omnicom Group in a research note on Friday. They set a sector perform rating and a $87.00 price target on the stock. Credit Suisse Group AG initiated coverage on shares of Omnicom Group in a research note on Thursday, September 15th. They set a neutral rating and a $83.00 price target on the stock. Finally, Albert Fried & Company reaffirmed a hold rating and set a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $82.64.
Shares of Omnicom Group (NYSE:OMC) traded down 0.99% during trading on Friday, reaching $82.24. 1,837,949 shares of the company’s stock were exchanged. Omnicom Group has a 52 week low of $66.48 and a 52 week high of $87.50. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 17.99 and a beta of 1.35. The stock has a 50 day moving average price of $84.69 and a 200-day moving average price of $83.39.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Omnicom Group will post $4.75 earnings per share for the current year.
The business 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 annualized dividend and a dividend yield of 2.68%. Omnicom Group’s payout ratio is currently 48.04%.
In other news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction dated 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 directly owns 30,440 shares in the company, valued at approximately $2,573,702. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Independent Portfolio Consultants Inc. raised its position in shares of Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock valued at $102,000 after buying an additional 255 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Omnicom Group during the first quarter valued at $110,000. Trust Department MB Financial Bank N A raised its position in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock valued at $123,000 after buying an additional 100 shares during the last quarter. City Holding Co. raised its position in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares during the last quarter. Finally, PineBridge Investments L.P. raised its position in shares of Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock valued at $163,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
Omnicom Group Company Profile
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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