Credit Suisse Group Raises Omnicom Group Inc. (OMC) Price Target to $80.00
Omnicom Group Inc. (NYSE:OMC) had its price objective raised by Credit Suisse Group from $78.00 to $80.00 in a research report sent to investors on Wednesday morning. They currently have a neutral rating on the business services provider’s stock.
A number of other research analysts also recently weighed in on OMC. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a buy rating in a research note on Tuesday, June 20th. BidaskClub downgraded Omnicom Group from a hold rating to a sell rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Omnicom Group from a hold rating to a buy rating and set a $91.00 price target on the stock in a research note on Friday, July 14th. Jefferies Group LLC reissued a hold rating and issued a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Wells Fargo & Company reissued a hold rating and issued a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. Omnicom Group currently has an average rating of Hold and a consensus target price of $84.00.
Shares of Omnicom Group (NYSE:OMC) traded up 1.00% during trading on Wednesday, hitting $73.69. The company had a trading volume of 3,496,302 shares. Omnicom Group has a 12-month low of $71.63 and a 12-month high of $89.66. The firm has a 50 day moving average of $74.13 and a 200 day moving average of $79.61. The stock has a market cap of $17.00 billion, a PE ratio of 14.66 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.69 billion. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. On average, analysts forecast that Omnicom Group will post $5.11 earnings per share for the current fiscal year.
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In other news, Director Linda Johnson Rice sold 483 shares of the stock in a transaction dated 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 directly owns 7,724 shares in the company, valued at approximately $634,835.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the transaction, the treasurer now owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,872 shares of company stock valued at $147,239. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of OMC. Teachers Advisors LLC boosted its stake in shares of Omnicom Group by 3.7% during the 1st quarter. Teachers Advisors LLC now owns 403,378 shares of the business services provider’s stock worth $34,775,000 after buying an additional 14,442 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Omnicom Group by 769.0% in the 1st quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after purchasing an additional 628,969 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Omnicom Group in the 1st quarter valued at about $483,000. PNC Financial Services Group Inc. lifted its stake in Omnicom Group by 39.7% in 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 purchasing an additional 112,283 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Omnicom Group by 6.3% in 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 purchasing an additional 70,742 shares during the last quarter. Institutional investors own 98.57% of the company’s stock.
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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