Omnicom Group (NYSE:OMC) Price Target Raised to $89.00

Omnicom Group (NYSE:OMC) had its target price hoisted by Bank of America from $87.00 to $89.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an underperform rating on the business services provider’s stock.

A number of other equities research analysts have also recently weighed in on OMC. Macquarie reissued an outperform rating and issued a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group boosted their target price on Omnicom Group from $117.00 to $120.00 and gave the company a buy rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Omnicom Group presently has a consensus rating of Moderate Buy and an average price target of $106.30.

Omnicom Group Trading Down 1.2 %

OMC opened at $98.74 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group has a one year low of $72.20 and a one year high of $102.13. The company has a market cap of $19.34 billion, a P/E ratio of 13.34, a PEG ratio of 2.36 and a beta of 0.94. The business’s 50-day simple moving average is $94.40 and its 200-day simple moving average is $93.22.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, equities research analysts expect that Omnicom Group will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Buying and Selling at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Trading of Omnicom Group

Several hedge funds have recently modified their holdings of the business. Beutel Goodman & Co Ltd. lifted its holdings in Omnicom Group by 1.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock valued at $363,148,000 after acquiring an additional 42,075 shares during the period. Boston Partners lifted its stake in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares during the period. Bank of New York Mellon Corp boosted its holdings in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after buying an additional 892,494 shares in the last quarter. Lazard Asset Management LLC grew its position in Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after buying an additional 165,136 shares during the period. Finally, First Trust Advisors LP grew its position in Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock worth $224,832,000 after buying an additional 186,562 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.