Omnicom Group (OMC) Downgraded by Macquarie to Underperform

Macquarie downgraded shares of Omnicom Group (NYSE:OMC) from a neutral rating to an underperform rating in a report published on Tuesday, Marketbeat Ratings reports. They currently have $83.00 price target on the business services provider’s stock.

OMC has been the topic of a number of other reports. Citigroup upgraded shares of Omnicom Group from a sell rating to a neutral rating in a research report on Wednesday, September 6th. BMO Capital Markets restated a hold rating and set a $85.00 price target on shares of Omnicom Group in a research report on Wednesday, October 18th. Jefferies Group restated a hold rating and set a $82.00 price target on shares of Omnicom Group in a research report on Thursday, September 21st. Royal Bank of Canada dropped their price target on shares of Omnicom Group from $96.00 to $87.00 and set an outperform rating on the stock in a research report on Wednesday, October 18th. Finally, Morgan Stanley downgraded shares of Omnicom Group from an equal weight rating to an underweight rating and set a $72.00 price target on the stock. in a research report on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $84.00.

Shares of Omnicom Group (OMC) opened at $72.17 on Tuesday. Omnicom Group has a 52-week low of $65.32 and a 52-week high of $87.43. The company has a market cap of $16,220.28, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm earned $1.06 EPS. Omnicom Group’s revenue was down 1.9% on a year-over-year basis. sell-side analysts anticipate that Omnicom Group will post 5.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 19th will be issued a $0.60 dividend. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, December 18th. Omnicom Group’s payout ratio is presently 47.81%.

In related news, Director Linda Johnson Rice sold 489 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the sale, the director now directly owns 7,777 shares in the company, valued at approximately $577,986.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $74.31, for a total transaction of $617,516.10. Following the completion of the sale, the insider now owns 21,271 shares in the company, valued at $1,580,648.01. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in shares of Omnicom Group by 0.3% in the third quarter. Swiss National Bank now owns 859,077 shares of the business services provider’s stock worth $63,632,000 after acquiring an additional 2,200 shares in the last quarter. Cambridge Trust Co. purchased a new position in shares of Omnicom Group in the third quarter worth approximately $319,000. Chatham Capital Group Inc. increased its position in shares of Omnicom Group by 2.7% in the second quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock worth $9,233,000 after acquiring an additional 2,965 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Omnicom Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock worth $2,271,000 after acquiring an additional 3,822 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Omnicom Group by 47.5% in the third quarter. Prudential Financial Inc. now owns 478,517 shares of the business services provider’s stock worth $35,444,000 after acquiring an additional 154,103 shares in the last quarter. Institutional investors and hedge funds own 98.58% of the company’s stock.

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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.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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