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

Omnicom Group Inc. (NYSE:OMC)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $87.41 and last traded at $86.6150, with a volume of 1140727 shares changing hands. The stock had previously closed at $82.41.

Analyst Ratings Changes

OMC has been the subject of several analyst reports. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Morgan Stanley upped their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Trading Up 4.6%

The business has a 50 day simple moving average of $76.59 and a 200-day simple moving average of $76.78. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 221.39, a PEG ratio of 0.48 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm posted $1.70 earnings per share. Omnicom Group’s revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tema ETFs LLC raised its holdings in shares of Omnicom Group by 10.4% during the second quarter. Tema ETFs LLC now owns 7,684 shares of the business services provider’s stock worth $560,000 after acquiring an additional 725 shares during the period. A&I Financial Services LLC lifted its position in Omnicom Group by 9.6% in the 2nd quarter. A&I Financial Services LLC now owns 10,141 shares of the business services provider’s stock valued at $739,000 after acquiring an additional 889 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in Omnicom Group by 4.0% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,293 shares of the business services provider’s stock worth $385,000 after purchasing an additional 204 shares during the period. HF Advisory Group LLC boosted its stake in Omnicom Group by 1.8% in the 2nd quarter. HF Advisory Group LLC now owns 16,299 shares of the business services provider’s stock worth $1,187,000 after purchasing an additional 296 shares during the period. Finally, Arista Wealth Management LLC bought a new position in Omnicom Group during the 2nd quarter worth about $303,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

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.