Omnicom Group Inc. (OMC) Price Target Cut to $87.00 by Analysts at Royal Bank Of Canada
Omnicom Group Inc. (NYSE:OMC) had its price objective decreased by Royal Bank Of Canada from $96.00 to $87.00 in a report published on Wednesday morning. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.
OMC has been the subject of several other research reports. Zacks Investment Research lowered shares of Omnicom Group from a buy rating to a hold rating in a research report on Monday, July 31st. Citigroup Inc. raised shares of Omnicom Group from a sell rating to a neutral rating in a research report on Wednesday, September 6th. BMO Capital Markets reaffirmed a hold rating and set a $85.00 price target on shares of Omnicom Group in a research report on Wednesday. Jefferies Group LLC reaffirmed a hold rating and set a $82.00 price target on shares of Omnicom Group in a research report on Thursday, September 21st. Finally, BidaskClub lowered shares of Omnicom Group from a hold rating to a sell rating in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $84.00.
Shares of Omnicom Group (OMC) traded down 3.30% during mid-day trading on Wednesday, hitting $72.96. 3,467,306 shares of the stock were exchanged. Omnicom Group has a one year low of $71.63 and a one year high of $89.66. The company has a 50-day moving average of $74.07 and a 200 day moving average of $79.74. The stock has a market cap of $16.84 billion, a PE ratio of 14.52 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 43.47%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts predict that Omnicom Group will post $5.09 earnings per share for the current year.
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In other news, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the transaction, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of OMC. Teachers Advisors LLC boosted its stake in Omnicom Group by 3.7% during the 1st quarter. Teachers Advisors LLC now owns 403,378 shares of the business services provider’s stock valued at $34,775,000 after acquiring an additional 14,442 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Omnicom Group by 769.0% during the 1st quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after acquiring an additional 628,969 shares during the last quarter. Laurion Capital Management LP bought a new position in Omnicom Group during the 1st quarter valued at $483,000. PNC Financial Services Group Inc. boosted its stake in Omnicom Group by 39.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 394,990 shares of the business services provider’s stock valued at $34,052,000 after acquiring an additional 112,283 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Omnicom Group by 6.3% during the 1st quarter. Legal & General Group Plc now owns 1,191,731 shares of the business services provider’s stock valued at $102,737,000 after acquiring an additional 70,742 shares during the last quarter. Hedge funds and other institutional investors own 98.57% 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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