Omnicom Group Inc. (OMC) Releases Earnings Results, Beats Expectations By $0.03 EPS
Omnicom Group Inc. (NYSE:OMC) issued its quarterly earnings data on Tuesday. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The firm earned $3.79 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Omnicom Group (NYSE:OMC) opened at 80.87 on Wednesday. The stock has a market capitalization of $19.13 billion, a price-to-earnings ratio of 17.69 and a beta of 1.35. Omnicom Group has a 1-year low of $66.48 and a 1-year high of $87.50. The company has a 50-day moving average of $84.22 and a 200-day moving average of $83.39.
In other news, Director Linda Johnson Rice sold 824 shares of the 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 sale, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. boosted its stake 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 last quarter. Meeder Asset Management Inc. purchased a new stake in Omnicom Group during the first quarter worth approximately $110,000. Trust Department MB Financial Bank N A boosted its stake 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 last quarter. City Holding Co. boosted its stake 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 last quarter. Finally, PineBridge Investments L.P. boosted its stake 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 last quarter. Hedge funds and other institutional investors own 97.02% of the company’s stock.
Several brokerages have issued reports 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 reiterated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 14th. Credit Suisse Group AG began coverage on Omnicom Group in a research report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price objective for the company. Telsey Advisory Group lifted their price objective on Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Finally, Royal Bank Of Canada began coverage on Omnicom Group in a research report on Friday, October 7th. They issued a “sector perform” rating and a $87.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and an average target price of $83.86.
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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