Omnicom Group Inc. (OMC) to Post Q3 2016 Earnings of $1.04 Per Share, Jefferies Group Forecasts
Omnicom Group Inc. (NYSE:OMC) – Equities research analysts at Jefferies Group lifted their Q3 2016 EPS estimates for Omnicom Group in a report released on Monday. Jefferies Group analyst J. Janedis now anticipates that the firm will earn $1.04 per share for the quarter, up from their prior estimate of $1.03.
A number of other analysts have also issued reports on the company. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Telsey Advisory Group raised their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. RBC Capital Markets reissued a “hold” rating and issued a $87.00 price target on shares of Omnicom Group in a research note on Sunday. Royal Bank Of Canada started coverage on Omnicom Group in a research note on Friday, October 7th. They issued a “sector perform” rating and a $87.00 price target on the stock. Finally, Credit Suisse Group AG started coverage on Omnicom Group in a research note on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $82.64.
Omnicom Group (NYSE:OMC) opened at 82.68 on Wednesday. The stock has a market capitalization of $19.56 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. The firm has a 50-day moving average of $84.52 and a 200 day moving average of $83.42.
In related news, Director Linda Johnson Rice sold 824 shares of the business’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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Virginia Retirement System acquired a new stake in Omnicom Group during the first quarter valued at about $327,000. TIAA CREF Investment Management LLC increased its stake in Omnicom Group by 11.3% in the first quarter. TIAA CREF Investment Management LLC now owns 625,610 shares of the company’s stock valued at $52,070,000 after buying an additional 63,400 shares in the last quarter. Teachers Advisors Inc. increased its stake in Omnicom Group by 9.2% in the first quarter. Teachers Advisors Inc. now owns 368,304 shares of the company’s stock valued at $30,654,000 after buying an additional 31,025 shares in the last quarter. Columbia Partners L L C Investment Management increased its stake in Omnicom Group by 1.3% in the first quarter. Columbia Partners L L C Investment Management now owns 12,857 shares of the company’s stock valued at $1,070,000 after buying an additional 160 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Omnicom Group by 5.6% in the first quarter. JPMorgan Chase & Co. now owns 829,251 shares of the company’s stock valued at $69,018,000 after buying an additional 43,962 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.
About Omnicom Group
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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