Royal Bank Of Canada Analysts Give Omnicom Group Inc. (OMC) a $96.00 Price Target
Omnicom Group Inc. (NYSE:OMC) has been assigned a $96.00 target price by equities research analysts at Royal Bank Of Canada in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the business services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 32.12% from the company’s previous close.
OMC has been the topic of a number of other reports. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. BidaskClub lowered Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $79.00 price objective (down from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $86.00.
Shares of Omnicom Group (NYSE:OMC) opened at 72.66 on Wednesday. The firm’s 50 day moving average is $79.52 and its 200-day moving average is $82.88. The company has a market capitalization of $16.77 billion, a P/E ratio of 14.67 and a beta of 1.25. Omnicom Group has a 52-week low of $72.64 and a 52-week high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group will post $5.08 earnings per share for the current fiscal year.
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In related news, Chairman Bruce Crawford sold 22,800 shares of the company’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 owns 105,250 shares in the company, valued at $8,936,777.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The disclosure for this sale can be found here. Insiders have sold 24,183 shares of company stock valued at $2,046,845 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in OMC. BlackRock Inc. increased its position in shares of 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 worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Janus Henderson Group PLC increased its position in shares of Omnicom Group by 15,279.3% in the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock worth $414,191,000 after buying an additional 4,963,787 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in shares of Omnicom Group during the second quarter worth about $153,358,000. Nordea Investment Management AB increased its position in shares of Omnicom Group by 501.5% in the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock worth $182,531,000 after buying an additional 1,835,749 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Omnicom Group by 90.0% in the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock worth $219,876,000 after buying an additional 1,256,005 shares during the period. Institutional investors and hedge funds own 98.02% 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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