Omnicom Group Inc. (OMC) Coverage Initiated at Royal Bank Of Canada
Research analysts at Royal Bank Of Canada started coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research report issued to clients and investors on Friday. The firm set a “sector perform” rating and a $87.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 5.25% from the stock’s current price.
A number of other brokerages have also weighed in on OMC. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Albert Fried & Company restated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 14th. Credit Suisse Group AG assumed coverage on Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Telsey Advisory Group boosted their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 20th. Finally, RBC Capital Markets assumed coverage on Omnicom Group in a research report on Thursday, October 6th. They set a “sector perform” rating and a $87.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.64.
Shares of Omnicom Group (NYSE:OMC) opened at 82.66 on Friday. The stock’s 50 day moving average price is $84.65 and its 200-day moving average price is $83.43. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 18.08 and a beta of 1.35. Omnicom Group has a 52-week low of $66.48 and a 52-week high of $87.50.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates 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. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. Omnicom Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. On average, analysts forecast that Omnicom Group will post $4.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 10th. Investors of record on Thursday, September 22nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Tuesday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 48.04%.
In related news, Director Linda Johnson Rice sold 824 shares of the company’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 transaction, the director now directly owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. increased its position in Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the period. Meeder Asset Management Inc. purchased a new position in Omnicom Group during the first quarter worth $110,000. Trust Department MB Financial Bank N A increased its position in 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 worth $123,000 after buying an additional 100 shares during the period. City Holding Co. increased its position in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares during the period. Finally, PineBridge Investments L.P. increased its position in Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock worth $163,000 after buying an additional 198 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.
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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