Omnicom Group Inc. (OMC) Sets New 12-Month High at $86.45
Omnicom Group Inc. (NYSE:OMC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $86.45 and last traded at $86.09, with a volume of 574,468 shares trading hands. The stock had previously closed at $85.84.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Omnicom Group in a research report on Sunday, July 17th. Albert Fried & Company reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 14th. Finally, Telsey Advisory Group boosted their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $80.82.
The stock has a market cap of $20.36 billion and a P/E ratio of 18.8227. The firm has a 50-day moving average of $83.33 and a 200-day moving average of $82.10.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.03. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Omnicom Group Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Tuesday, September 20th.
In other news, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $84.31, for a total transaction of $1,922,268.00. Following the completion of the sale, the chairman now directly owns 128,650 shares in the company, valued at $10,846,481.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Linda Johnson Rice sold 824 shares of the stock in a transaction 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 sale, the director now owns 30,440 shares of the company’s stock, valued at $2,573,702. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Omnicom Group by 39.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 65,089 shares of the company’s stock valued at $4,925,000 after buying an additional 18,385 shares during the period. State of Tennessee Treasury Department boosted its stake in Omnicom Group by 23.1% in the fourth quarter. State of Tennessee Treasury Department now owns 75,143 shares of the company’s stock worth $5,685,000 after buying an additional 14,101 shares during the last quarter. KBC Group NV boosted its stake in Omnicom Group by 7.4% in the fourth quarter. KBC Group NV now owns 31,086 shares of the company’s stock worth $2,352,000 after buying an additional 2,152 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Omnicom Group by 5.2% in the fourth quarter. American International Group Inc. now owns 4,941,763 shares of the company’s stock worth $373,894,000 after buying an additional 242,614 shares during the last quarter.
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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