Omnicom Group Inc. (OMC) Cut to “Neutral” at Macquarie

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.

TRADEMARK VIOLATION WARNING: “Omnicom Group Inc. (OMC) Cut to “Neutral” at Macquarie” was posted by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://sleekmoney.com/omnicom-group-inc-omc-cut-to-neutral-at-macquarie/1894525.html.

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.

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/omnicom-group-inc-omc-cut-to-neutral-at-macquarie/1894525.html

Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *