Morgan Stanley Begins Coverage on Omnicom Group (NYSE:OMC)

Equities research analysts at Morgan Stanley assumed coverage on shares of Omnicom Group (NYSE:OMC) in a report issued on Tuesday. The brokerage set an “equal weight” rating and a $88.00 price target on the business services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.22% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Barclays increased their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. UBS Group increased their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.57.

Omnicom Group Stock Performance

NYSE:OMC traded up $0.84 during mid-day trading on Tuesday, reaching $81.32. 1,001,229 shares of the company’s stock were exchanged, compared to its average volume of 3,832,087. Omnicom Group has a one year low of $68.37 and a one year high of $90.79. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The business’s fifty day simple moving average is $75.30 and its two-hundred day simple moving average is $74.84. The firm has a market capitalization of $15.69 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.28 and a beta of 0.75.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently bought and sold shares of OMC. Capital A Wealth Management LLC increased its holdings in Omnicom Group by 548.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after acquiring an additional 318 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 319 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in Omnicom Group during the second quarter valued at $29,000. Meeder Asset Management Inc. increased its stake in Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in Omnicom Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after acquiring an additional 202 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.