Omnicom Group (NYSE:OMC) Upgraded by The Goldman Sachs Group to Strong-Buy Rating

The Goldman Sachs Group upgraded shares of Omnicom Group (NYSE:OMC) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on OMC. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Up 2.5%

NYSE:OMC opened at $75.62 on Wednesday. Omnicom Group has a twelve month low of $66.33 and a twelve month high of $87.17. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 193.90, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The stock has a fifty day simple moving average of $75.46 and a 200-day simple moving average of $76.57. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $1.70 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts anticipate that Omnicom Group will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Omnicom Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. DV Trading LLC raised its holdings in shares of Omnicom Group by 275.0% in the first quarter. DV Trading LLC now owns 3,000 shares of the business services provider’s stock valued at $226,000 after acquiring an additional 2,200 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Omnicom Group by 27.8% in the first quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider’s stock valued at $4,296,000 after acquiring an additional 12,425 shares in the last quarter. Cozad Asset Management Inc. raised its holdings in shares of Omnicom Group by 2.6% in the first quarter. Cozad Asset Management Inc. now owns 28,938 shares of the business services provider’s stock valued at $2,179,000 after acquiring an additional 737 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Omnicom Group by 17.5% in the first quarter. Glenmede Trust Co. NA now owns 447,005 shares of the business services provider’s stock valued at $33,664,000 after acquiring an additional 66,515 shares in the last quarter. Finally, Axiom Investment Management LLC bought a new stake in shares of Omnicom Group in the first quarter valued at about $2,376,000. 91.97% of the stock is currently owned by institutional investors.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.