Macquarie downgraded shares of Omnicom Group Inc. (NYSE:OMC) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday. They currently have $83.00 price objective on the business services provider’s stock, down from their prior price objective of $90.00.
OMC has been the topic of several other research reports. Royal Bank of Canada set a $96.00 price target on Omnicom Group and gave the stock a buy rating in a research report on Saturday, May 20th. Wedbush dropped their target price on Omnicom Group from $90.00 to $89.00 and set a neutral rating on the stock in a report on Wednesday, April 19th. Zacks Investment Research lowered Omnicom Group from a hold rating to a sell rating in a report on Friday, April 21st. Barclays PLC restated a hold rating and issued a $86.00 price target on shares of Omnicom Group in a research note on Thursday, April 20th. Finally, Argus downgraded Omnicom Group from a buy rating to a hold rating in a research note on Thursday, February 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $86.23.
Omnicom Group (OMC) opened at 80.28 on Tuesday. The company has a market capitalization of $18.68 billion, a P/E ratio of 16.37 and a beta of 1.28. Omnicom Group has a one year low of $75.61 and a one year high of $89.66. The firm has a 50-day moving average of $83.25 and a 200-day moving average of $85.06.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 18th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, analysts anticipate that Omnicom Group will post $5.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.74%. Omnicom Group’s payout ratio is 45.93%.
In other Omnicom Group news, Director Leonard S. Coleman, Jr. sold 2,038 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $83.93, for a total transaction of $171,049.34. Following the sale, the director now directly owns 24,853 shares in the company, valued at $2,085,912.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the sale, the chairman now owns 105,250 shares in the company, valued at $8,936,777.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of OMC. Garde Capital Inc. purchased a new stake in Omnicom Group during the third quarter worth approximately $659,000. Twin Capital Management Inc. increased its stake in Omnicom Group by 11.0% in the fourth quarter. Twin Capital Management Inc. now owns 14,180 shares of the business services provider’s stock worth $1,207,000 after buying an additional 1,400 shares during the last quarter. Calamos Wealth Management LLC increased its stake in Omnicom Group by 5.6% in the fourth quarter. Calamos Wealth Management LLC now owns 26,211 shares of the business services provider’s stock worth $2,231,000 after buying an additional 1,396 shares during the last quarter. Institutional Capital LLC increased its stake in Omnicom Group by 138.8% in the fourth quarter. Institutional Capital LLC now owns 2,350,056 shares of the business services provider’s stock worth $200,013,000 after buying an additional 1,365,822 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its stake in Omnicom Group by 26.7% in the fourth quarter. Johnson Financial Group Inc. now owns 9,016 shares of the business services provider’s stock worth $767,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 96.65% 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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