Omnicom Group Inc. (OMC) to Issue Quarterly Dividend of $0.55
Omnicom Group Inc. (NYSE:OMC) declared a quarterly dividend on Thursday, July 13th, RTT News reports. Shareholders of record on Friday, September 22nd will be paid a dividend of 0.55 per share by the business services provider on Tuesday, October 10th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, September 21st.
Omnicom Group has raised its dividend payment by an average of 20.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Omnicom Group has a dividend payout ratio of 43.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Omnicom Group to earn $5.43 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 40.5%.
Omnicom Group (NYSE:OMC) opened at 79.06 on Tuesday. Omnicom Group has a 12 month low of $77.50 and a 12 month high of $89.66. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 15.97 and a beta of 1.25. The firm has a 50 day moving average price of $81.66 and a 200-day moving average price of $83.74.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Omnicom Group will post $5.08 EPS for the current year.
In related news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction 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 approximately $8,936,777.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock valued at $2,046,845 in the last 90 days. 1.10% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: “Omnicom Group Inc. (OMC) to Issue Quarterly Dividend of $0.55” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/08/omnicom-group-inc-declares-quarterly-dividend-of-0-55-omc-updated-updated-updated.html.
Several brokerages recently weighed in on OMC. Evercore ISI initiated coverage on Omnicom Group in a research note on Monday, April 17th. They set an “in-line” rating and a $91.00 target price for the company. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and issued a $101.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 11th. Macquarie downgraded Omnicom Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Finally, Barclays PLC reiterated a “hold” rating and issued a $86.00 price objective on shares of Omnicom Group in a research report on Thursday, April 20th. 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.00.
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.