Omnicom Group (NYSE:OMC) Issues Quarterly Earnings Results

Omnicom Group (NYSE:OMC) issued its quarterly earnings results on Tuesday. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02), FiscalAI reports. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%.

Omnicom Group Price Performance

OMC stock traded up $3.90 during mid-day trading on Tuesday, hitting $86.31. The company had a trading volume of 3,975,867 shares, compared to its average volume of 4,557,636. The company has a 50-day moving average price of $76.59 and a 200 day moving average price of $76.78. Omnicom Group has a 12-month low of $66.33 and a 12-month high of $87.41. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of 221.32, a P/E/G ratio of 0.48 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group’s payout ratio is presently 820.51%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OMC. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley raised their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Citigroup cut their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.38.

Institutional Investors Weigh In On Omnicom Group

A number of hedge funds have recently made changes to their positions in OMC. EFG International AG bought a new position in Omnicom Group during the fourth quarter valued at approximately $28,000. Caitlin John LLC raised its holdings in shares of Omnicom Group by 4,675.0% during the 4th quarter. Caitlin John LLC now owns 382 shares of the business services provider’s stock worth $31,000 after acquiring an additional 374 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Omnicom Group during the 3rd quarter worth approximately $34,000. DV Equities LLC bought a new position in shares of Omnicom Group during the 4th quarter valued at approximately $36,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Omnicom Group in the second quarter valued at $37,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.