Omnicom Group Inc. (OMC) Earns Sector Perform Rating from Analysts at RBC Capital Markets
Stock analysts at RBC Capital Markets initiated coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a report issued on Thursday. The brokerage set a “sector perform” rating and a $87.00 price target on the stock. RBC Capital Markets’ target price suggests a potential upside of 5.79% from the stock’s current price.
Several other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Thursday. BMO Capital Markets restated a “hold” rating and issued a $80.00 price objective on shares of Omnicom Group in a report on Sunday, July 17th. Albert Fried & Company restated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 14th. Telsey Advisory Group upped their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Finally, Credit Suisse Group AG initiated coverage on shares of Omnicom Group in a report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.64.
Omnicom Group (NYSE:OMC) traded up 1.06% on Thursday, hitting $83.11. 91,622 shares of the company were exchanged. The stock has a market capitalization of $19.66 billion, a P/E ratio of 18.18 and a beta of 1.35. Omnicom Group has a 52 week low of $66.48 and a 52 week high of $87.50. The company has a 50 day moving average price of $84.69 and a 200-day moving average price of $83.39.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 14th. The company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The company earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the business posted $1.26 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group will post $4.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is presently 48.04%.
In other news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in OMC. Checchi Capital Advisers LLC increased its stake in shares of Omnicom Group by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 3,230 shares of the company’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Dowling & Yahnke LLC increased its stake in shares of Omnicom Group by 1.3% in the second quarter. Dowling & Yahnke LLC now owns 4,243 shares of the company’s stock worth $346,000 after buying an additional 53 shares during the last quarter. Nippon Life Insurance Co. increased its stake in shares of Omnicom Group by 0.3% in the second quarter. Nippon Life Insurance Co. now owns 20,905 shares of the company’s stock worth $1,704,000 after buying an additional 54 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Omnicom Group by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,086 shares of the company’s stock worth $446,000 after buying an additional 66 shares during the last quarter. Finally, Trust Department MB Financial Bank N A increased its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.
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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