Omnicom Group Inc. (OMC) Reaches New 12-Month High at $86.45
Omnicom Group Inc. (NYSE:OMC) shares hit 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 traded. The stock had previously closed at $85.84.
OMC has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research report on Sunday, July 17th. 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. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Telsey Advisory Group boosted 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. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and an average price target of $80.82.
The firm has a market cap of $20.37 billion and a P/E ratio of 18.84. The company has a 50-day moving average price of $83.44 and a 200-day moving average price of $82.22.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03. The business earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post $4.76 EPS for the current year.
The firm 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 $0.55 dividend. The ex-dividend date is Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.55%.
In other news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $84.31, for a total value of $1,922,268.00. Following the completion of the sale, the chairman now directly owns 128,650 shares of the company’s stock, valued at $10,846,481.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares of the company’s stock, valued at $2,573,702. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in OMC. 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 worth $4,925,000 after buying an additional 18,385 shares during the last quarter. 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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