Omnicom Group (NYSE:OMC) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Omnicom Group (NYSE:OMC) announced its quarterly earnings data on Thursday. The business services provider reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06, FiscalAI reports. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.

Omnicom Group Trading Up 2.7%

Shares of OMC traded up $2.15 during mid-day trading on Thursday, reaching $82.65. The company had a trading volume of 4,047,364 shares, compared to its average volume of 4,028,142. Omnicom Group has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The firm has a fifty day simple moving average of $80.64 and a 200-day simple moving average of $78.44. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 71.25, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97.

Insider Activity at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OMC. Citigroup reduced their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research upgraded Omnicom Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Wells Fargo & Company raised their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Argus upgraded Omnicom Group to a “hold” rating in a report on Monday, September 14th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.75.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.