Telsey Advisory Group upgraded shares of Omnicom Group Inc. (NYSE:OMC) from a market perform rating to an outperform rating in a research note released on Wednesday. The firm currently has $89.00 price objective on the business services provider’s stock, up from their previous price objective of $86.00.
Several other analysts have also issued reports on OMC. BMO Capital Markets restated a hold rating and issued a $85.00 target price on shares of Omnicom Group in a research note on Wednesday. BidaskClub lowered Omnicom Group from a sell rating to a strong sell rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Omnicom Group from a hold rating to a sell rating in a research note on Tuesday, October 10th. Credit Suisse Group lowered their target price on Omnicom Group from $79.00 to $78.00 and set a neutral rating on the stock in a research note on Wednesday, October 11th. Finally, Jefferies Group LLC restated a hold rating and issued a $82.00 target price on shares of Omnicom Group in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $84.00.
Omnicom Group (OMC) traded down 3.30% during midday trading on Wednesday, reaching $72.96. The company had a trading volume of 3,467,306 shares. Omnicom Group has a 12-month low of $71.63 and a 12-month high of $89.66. The stock’s 50 day moving average is $74.07 and its 200 day moving average is $79.74. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 14.52 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. Omnicom Group had a return on equity of 43.47% and a net margin of 7.72%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. Equities research analysts expect that Omnicom Group will post $5.09 earnings per share for the current year.
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In related news, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the sale, the treasurer now directly owns 44,161 shares in the company, valued at approximately $3,493,576.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its stake in Omnicom Group by 3.7% in the 1st quarter. Teachers Advisors LLC now owns 403,378 shares of the business services provider’s stock worth $34,775,000 after acquiring an additional 14,442 shares during the last quarter. WINTON GROUP Ltd increased 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 worth $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 in the 1st quarter worth about $483,000. PNC Financial Services Group Inc. increased 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 worth $34,052,000 after acquiring an additional 112,283 shares during the last quarter. Finally, Legal & General Group Plc increased 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 worth $102,737,000 after acquiring 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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