Omnicom Group Inc. (OMC) Sets New 12-Month Low at $73.69
Omnicom Group Inc. (NYSE:OMC)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $73.69 and last traded at $73.47, with a volume of 5,177,832 shares trading hands. The stock had previously closed at $78.13.
OMC has been the topic of several recent research reports. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price objective (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $86.00.
The company has a market cap of $16.84 billion, a P/E ratio of 14.738 and a beta of 1.25. The company’s 50-day moving average is $79.86 and its 200 day moving average is $83.01.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. Omnicom Group’s payout ratio is 44.44%.
In related news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the sale, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the sale, the chairman now owns 105,250 shares in the company, valued at $8,936,777.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,183 shares of company stock worth $2,046,845. 1.10% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Janus Henderson Group PLC raised its stake in shares of Omnicom Group by 15,279.3% in the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock worth $414,191,000 after buying an additional 4,963,787 shares during the period. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the second quarter worth approximately $153,358,000. Nordea Investment Management AB raised its stake in shares of Omnicom Group by 501.5% in the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock worth $182,531,000 after buying an additional 1,835,749 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Omnicom Group by 90.0% in the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock worth $219,876,000 after buying an additional 1,256,005 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.
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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.