BMO Capital Markets Reaffirms Hold Rating for Omnicom Group Inc. (OMC)
BMO Capital Markets restated their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a report published on Wednesday. They currently have a $85.00 target price on the business services provider’s stock.
Several other equities research analysts have also recently issued reports on OMC. Jefferies Group LLC restated a hold rating and set a $82.00 price objective on shares of Omnicom Group in a research report on Friday, July 14th. Credit Suisse Group restated a neutral rating and set a $79.00 price objective (down from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Omnicom Group from a hold rating to a buy rating and set a $91.00 price objective for the company in a research report on Friday, July 14th. Wells Fargo & Company restated a hold rating and set a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a buy rating in a research report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $85.92.
Omnicom Group (OMC) opened at 73.04 on Wednesday. Omnicom Group has a 1-year low of $71.63 and a 1-year high of $89.66. The company’s 50 day moving average is $75.69 and its 200-day moving average is $81.45. The stock has a market capitalization of $16.85 billion, a PE ratio of 14.75 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. Analysts forecast that Omnicom Group will post $5.08 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is presently 44.44%.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OMC. Jensen Investment Management Inc. boosted its stake in shares of Omnicom Group by 11.3% in the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after purchasing an additional 354,285 shares during the period. Beutel Goodman & Co Ltd. purchased a new position in shares of Omnicom Group in the second quarter valued at approximately $153,358,000. Homrich & Berg boosted its stake in shares of Omnicom Group by 10.3% in the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock valued at $676,000 after purchasing an additional 762 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Omnicom Group by 60.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,204 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 3,842 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock valued at $3,613,000 after purchasing an additional 2,291 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.
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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