Omnicom Group (NYSE:OMC) Sets New 12-Month High – Time to Buy?

Omnicom Group Inc. (NYSE:OMC)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $89.02 and last traded at $89.02, with a volume of 150 shares. The stock had previously closed at $87.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OMC shares. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Trading Down 0.7%

The business’s 50 day moving average price is $80.11 and its two-hundred day moving average price is $77.50. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 74.56, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is presently 275.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Omnicom Group in the 2nd quarter worth about $25,000. Bayforest Capital Ltd bought a new position in Omnicom Group in the fourth quarter valued at about $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the fourth quarter valued at about $26,000. Finally, Legacy Wealth Managment LLC ID boosted its stake in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. 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.