Omnicom Group Inc. (NYSE:OMC) Announces Quarterly Earnings Results
Omnicom Group Inc. (NYSE:OMC) released its earnings results on Thursday. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02, MarketWatch Earnings reports. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.70%. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS.
Omnicom Group (OMC) opened at 82.73 on Friday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 16.87 and a beta of 1.27. Omnicom Group has a 12-month low of $78.67 and a 12-month high of $89.66. The company’s 50 day moving average is $82.31 and its 200 day moving average is $84.08.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.66%. Omnicom Group’s payout ratio is 44.44%.
A number of brokerages have weighed in on OMC. Evercore ISI began coverage on shares of Omnicom Group in a report on Monday, April 17th. They issued an “in-line” rating and a $91.00 price target on the stock. They noted that the move was a valuation call. Wedbush decreased their price target on shares of 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 shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Barclays PLC reiterated a “hold” rating and issued a $86.00 price target on shares of Omnicom Group in a report on Thursday, April 20th. Finally, Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $83.00 in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and an average price target of $85.83.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of OMC. BlackRock Inc. increased its stake in Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares in the last quarter. Vanguard Group Inc. increased its stake in Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock valued at $1,367,864,000 after buying an additional 116,893 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Omnicom Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 13,088,271 shares of the business services provider’s stock valued at $1,128,340,000 after buying an additional 245,542 shares in the last quarter. State Street Corp increased its stake in Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock valued at $850,497,000 after buying an additional 121,470 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Omnicom Group by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 5,933,025 shares of the business services provider’s stock valued at $511,487,000 after buying an additional 488,684 shares in the last quarter. 96.68% 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.