Omnicom Group (NYSE:OMC) Price Target Raised to $90.00

Omnicom Group (NYSE:OMC) had its price objective raised by Barclays from $82.00 to $90.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other equities analysts have also commented on OMC. Citigroup lifted their price target on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Bank of America restated an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. UBS Group lifted their price objective on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Morgan Stanley started coverage on Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

Omnicom Group Stock Performance

OMC stock opened at $82.64 on Monday. The firm has a 50 day moving average of $77.14 and a two-hundred day moving average of $76.59. Omnicom Group has a 12 month low of $66.33 and a 12 month high of $89.27. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 168.65, a P/E/G ratio of 1.23 and a beta of 0.74. The company has a quick ratio of 0.80, a current ratio of 0.93 and a debt-to-equity ratio of 0.60.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company posted $2.41 EPS. The business’s revenue was up 27.9% compared to the same quarter last year. As a group, equities analysts anticipate that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is 653.06%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bollard Group LLC boosted its holdings in shares of Omnicom Group by 6.0% in the second quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 145 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Omnicom Group by 2.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 7,330 shares of the business services provider’s stock worth $598,000 after purchasing an additional 145 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its position in Omnicom Group by 4.1% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 147 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in Omnicom Group by 7.9% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,031 shares of the business services provider’s stock valued at $166,000 after purchasing an additional 149 shares in the last quarter. Finally, Wakefield Asset Management LLLP increased its position in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after purchasing an additional 149 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Company Profile

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.