Omnicom Group (NYSE:OMC) Sets New 1-Year High – Here’s Why

Omnicom Group Inc. (NYSE:OMC) hit a new 52-week high during trading on Thursday . The stock traded as high as $87.99 and last traded at $88.11, with a volume of 1090555 shares. The stock had previously closed at $85.51.

Analyst Ratings Changes

A number of research firms have weighed in on OMC. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Citigroup lowered their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Finally, Morgan Stanley boosted their price objective 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 equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Down 1.0%

The company has a market cap of $23.99 billion, a PE ratio of 75.39, a P/E/G ratio of 0.59 and a beta of 0.64. The stock has a 50-day moving average of $79.20 and a 200-day moving average of $77.24. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Sell-side analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is 275.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wakefield Asset Management LLLP lifted its position in Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co grew its position in Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock worth $50,000 after acquiring an additional 149 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in Omnicom Group by 39.1% in the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC increased its stake in Omnicom Group by 3.5% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after acquiring an additional 167 shares during the last quarter. Finally, Binnacle Investments Inc increased its stake in Omnicom Group by 17.7% in the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 169 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

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.