Barclays Issues Pessimistic Forecast for Omnicom Group (NYSE:OMC) Stock Price

Omnicom Group (NYSE:OMC) had its price objective reduced by Barclays from $88.00 to $87.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price target suggests a potential upside of 8.89% from the stock’s previous close.

OMC has been the subject of several other research reports. Citigroup cut their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus target price of $100.67.

Omnicom Group Stock Down 3.4%

Shares of NYSE OMC traded down $2.79 during mid-day trading on Monday, reaching $79.89. 508,609 shares of the company traded hands, compared to its average volume of 4,016,827. The company’s fifty day moving average is $80.43 and its two-hundred day moving average is $78.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The stock has a market cap of $21.92 billion, a PE ratio of 44.60, a price-to-earnings-growth ratio of 0.71 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.06. Omnicom Group had a return on equity of 24.29% and a net margin of 2.85%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the business posted $2.24 earnings per share. The firm’s revenue was up 59.1% compared to the same quarter last year. On average, analysts expect that Omnicom Group will post 10.33 earnings per share for the current year.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OMC. BlackRock Inc. acquired a new stake in Omnicom Group in the second quarter valued at $2,082,476,000. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group in the 2nd quarter valued at about $914,156,000. Nykredit A S acquired a new position in shares of Omnicom Group during the 2nd quarter worth about $126,937,000. Pacer Advisors Inc. increased its stake in shares of Omnicom Group by 116.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock worth $214,451,000 after purchasing an additional 1,530,743 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $105,402,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.