Omnicom Group (NYSE:OMC) Rating Increased to Hold at Argus

Argus upgraded shares of Omnicom Group (NYSE:OMC) to a hold rating in a research note issued to investors on Monday,Zacks reports.

A number of other research firms have also weighed in on OMC. Citigroup reduced their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Performance

OMC opened at $79.80 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. Omnicom Group has a 12-month low of $66.33 and a 12-month high of $89.57. The firm has a 50 day moving average of $83.24 and a two-hundred day moving average of $78.86. The firm has a market capitalization of $21.89 billion, a PE ratio of 68.79, a P/E/G ratio of 0.69 and a beta of 0.65.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm’s revenue was up 63.4% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. On average, analysts anticipate that Omnicom Group will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. Omnicom Group’s dividend payout ratio (DPR) is 275.86%.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of Omnicom Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds have recently bought and sold shares of OMC. Resona Asset Management Co. Ltd. lifted its stake in Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after purchasing an additional 35,247 shares in the last quarter. Orca Investment Management LLC purchased a new position in shares of Omnicom Group during the second quarter worth $2,023,000. Polianta Ltd acquired a new stake in shares of Omnicom Group in the second quarter valued at $1,762,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Omnicom Group in the second quarter valued at $9,146,000. Finally, Heritage Trust Co raised its holdings in shares of Omnicom Group by 198.2% in the 4th quarter. Heritage Trust Co now owns 43,304 shares of the business services provider’s stock valued at $3,497,000 after buying an additional 28,782 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.