Omnicom Group’s (OMC) Hold Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a research note released on Friday, July 14th. The brokerage currently has a $82.00 price objective on the business services provider’s stock. Jefferies Group also issued estimates for Omnicom Group’s Q2 2017 earnings at $1.40 EPS, Q3 2017 earnings at $1.11 EPS, FY2017 earnings at $5.10 EPS, Q1 2018 earnings at $1.02 EPS, Q2 2018 earnings at $1.50 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.70 EPS and FY2018 earnings at $5.40 EPS.
A number of other analysts have also weighed in on the company. Evercore ISI started coverage on Omnicom Group in a research note on Monday, April 17th. They issued an in-line rating and a $91.00 target price on the stock. They noted that the move was a valuation call. Credit Suisse Group reiterated a neutral rating and issued a $79.00 target price (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Zacks Investment Research raised Omnicom Group from a sell rating to a hold rating in a research report on Tuesday, June 20th. Barclays PLC reissued a hold rating and set a $86.00 price target on shares of Omnicom Group in a research report on Thursday, April 20th. Finally, Wedbush dropped their price target on Omnicom Group from $90.00 to $89.00 and set a neutral rating on the stock in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $86.00.
Shares of Omnicom Group (NYSE OMC) opened at 78.59 on Friday. The company’s 50 day moving average is $81.39 and its 200-day moving average is $83.64. Omnicom Group has a one year low of $77.50 and a one year high of $89.66. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 15.87 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. Omnicom Group’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Omnicom Group will post $5.08 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is presently 44.44%.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction 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 owns 105,250 shares in the company, valued at approximately $8,936,777.50. The disclosure for this sale can be found here. Insiders sold 24,183 shares of company stock worth $2,046,845 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of OMC. Commerce Bank increased its stake in Omnicom Group by 21.2% in the second quarter. Commerce Bank now owns 111,945 shares of the business services provider’s stock worth $9,280,000 after buying an additional 19,546 shares in the last quarter. Boston Research & Management Inc. increased its stake in Omnicom Group by 1.3% in the second quarter. Boston Research & Management Inc. now owns 32,094 shares of the business services provider’s stock worth $2,660,000 after buying an additional 415 shares in the last quarter. Crawford Investment Counsel Inc. increased its stake in Omnicom Group by 4.8% in the second quarter. Crawford Investment Counsel Inc. now owns 947,394 shares of the business services provider’s stock worth $78,539,000 after buying an additional 43,539 shares in the last quarter. Homrich & Berg increased its stake in Omnicom Group by 10.3% in the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock worth $676,000 after buying an additional 762 shares in the last quarter. Finally, Capital Analysts LLC increased its stake in Omnicom Group by 1.9% in the second quarter. Capital Analysts LLC now owns 12,463 shares of the business services provider’s stock valued at $1,033,000 after buying an additional 227 shares in the last quarter. Institutional investors own 98.68% of the company’s stock.
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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