Omnicom Group Inc. (OMC) Releases Earnings Results, Beats Expectations By $0.03 EPS
Omnicom Group Inc. (NYSE:OMC) released its earnings results on Tuesday. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The business earned $3.79 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Shares of Omnicom Group (NYSE:OMC) opened at 80.87 on Wednesday. The stock has a market capitalization of $19.13 billion, a P/E ratio of 17.69 and a beta of 1.35. Omnicom Group has a one year low of $66.48 and a one year high of $87.50. The stock’s 50 day moving average price is $84.22 and its 200 day moving average price is $83.39.
In related news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the transaction, the director now owns 30,440 shares in the company, valued at approximately $2,573,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of OMC. Independent Portfolio Consultants Inc. increased its position in Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock valued at $102,000 after buying an additional 255 shares during the period. Meeder Asset Management Inc. bought a new position in Omnicom Group during the first quarter valued at approximately $110,000. Trust Department MB Financial Bank N A increased its position 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. City Holding Co. increased its position in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares during the period. Finally, PineBridge Investments L.P. increased its position in Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock valued at $163,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 97.02% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Pivotal Research upped their target price on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Monday. Telsey Advisory Group upped their target price 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. Credit Suisse Group AG assumed coverage on shares of Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a report on Sunday, July 17th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $83.86.
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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