Omnicom Group Inc. (OMC) Now Covered by Analysts at Royal Bank Of Canada
Royal Bank Of Canada began coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a report published on Friday morning. The brokerage issued a sector perform rating and a $87.00 target price on the stock.
Several other brokerages have also issued reports on OMC. Zacks Investment Research raised shares of Omnicom Group from a sell rating to a hold rating in a report on Tuesday, August 30th. Albert Fried & Company reissued a hold rating and set a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 14th. Credit Suisse Group AG initiated coverage on shares of Omnicom Group in a report on Thursday, September 15th. They set a neutral rating and a $83.00 price objective on the stock. Telsey Advisory Group lifted their price target 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, RBC Capital Markets initiated coverage on shares of Omnicom Group in a report on Thursday. They issued a sector perform rating and a $87.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Omnicom Group presently has a consensus rating of Hold and a consensus target price of $82.64.
Omnicom Group (NYSE:OMC) traded up 0.68% during trading on Friday, hitting $82.80. The stock had a trading volume of 315,974 shares. Omnicom Group has a 12 month low of $66.48 and a 12 month high of $87.50. The stock has a market cap of $19.59 billion, a price-to-earnings ratio of 18.11 and a beta of 1.35. The firm has a 50 day moving average of $84.69 and a 200-day moving average of $83.39.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.03. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.91 billion. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. Omnicom Group’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities analysts predict that Omnicom Group will post $4.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 22nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.20 annualized dividend and a yield of 2.68%. Omnicom Group’s dividend payout ratio is presently 48.04%.
In related news, Director Linda Johnson Rice sold 824 shares of the company’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 completion of 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in OMC. Checchi Capital Advisers LLC boosted 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 valued at $263,000 after buying an additional 31 shares in the last quarter. Dowling & Yahnke LLC boosted its stake in Omnicom Group by 1.3% in the second quarter. Dowling & Yahnke LLC now owns 4,243 shares of the company’s stock valued at $346,000 after buying an additional 53 shares during the period. Nippon Life Insurance Co. boosted its stake in Omnicom Group by 0.3% in the second quarter. Nippon Life Insurance Co. now owns 20,905 shares of the company’s stock valued at $1,704,000 after buying an additional 54 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Omnicom Group by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,086 shares of the company’s stock valued at $446,000 after buying an additional 66 shares during the period. Finally, Trust Department MB Financial Bank N A boosted its stake in 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 valued at $123,000 after buying an additional 100 shares during the period. 97.04% of the stock is owned by institutional investors.
About Omnicom Group
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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