Jefferies Group LLC Reiterates Hold Rating for Omnicom Group Inc. (OMC)
Omnicom Group Inc. (NYSE:OMC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued on Thursday. They currently have a $82.00 price target on the business services provider’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 9.33% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, July 22nd. BidaskClub lowered Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.92.
Shares of Omnicom Group (OMC) opened at 75.00 on Thursday. Omnicom Group has a one year low of $71.63 and a one year high of $89.66. The firm has a market capitalization of $17.31 billion, a P/E ratio of 15.15 and a beta of 1.27. The firm’s 50-day moving average is $75.34 and its 200 day moving average is $81.20.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. Equities research analysts predict that Omnicom Group will post $5.08 earnings per share for the current year.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The sale was disclosed in a legal filing with the SEC, 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. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Jensen Investment Management Inc. increased its position in shares of Omnicom Group by 11.3% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after purchasing an additional 354,285 shares during the last quarter. Comgest Global Investors S.A.S. increased its position in shares of Omnicom Group by 2.2% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock valued at $11,316,000 after purchasing an additional 3,000 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Omnicom Group by 60.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 10,204 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 3,842 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in shares of Omnicom Group during the 2nd quarter valued at $153,358,000. Finally, Homrich & Berg increased its position in shares of Omnicom Group by 10.3% during the 2nd quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock valued at $676,000 after purchasing an additional 762 shares during the last quarter. 98.60% of the stock is owned by hedge funds and other institutional investors.
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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