Morgan Stanley lowered shares of Omnicom Group Inc. (NYSE:OMC) from an equal weight rating to an underweight rating in a report issued on Monday, MarketBeat Ratings reports. Morgan Stanley currently has $72.00 price target on the business services provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a buy rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded Omnicom Group from a hold rating to a buy rating and set a $91.00 price target for the company in a research note on Friday, July 14th. Wells Fargo & Company restated a hold rating and set a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. Jefferies Group LLC restated a hold rating and set a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Finally, BMO Capital Markets restated a hold rating and set a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $84.00.
Omnicom Group (OMC) opened at 72.96 on Monday. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 14.52 and a beta of 1.28. Omnicom Group has a 52-week low of $71.63 and a 52-week high of $89.66. The firm’s 50-day moving average is $74.09 and its 200-day moving average is $79.69.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts predict that Omnicom Group will post $5.09 earnings per share for the current year.
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In related news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in Omnicom Group by 8.7% during the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after acquiring an additional 104 shares during the period. Dupont Capital Management Corp acquired a new position in Omnicom Group during the second quarter worth $104,000. Acrospire Investment Management LLC acquired a new position in Omnicom Group during the second quarter worth $149,000. Invictus RG grew its holdings in Omnicom Group by 1,098.2% during the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after acquiring an additional 1,812 shares during the period. Finally, FNY Partners Fund LP grew its holdings in Omnicom Group by 46.7% during the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after acquiring an additional 700 shares during the period. 98.57% of the stock is currently owned by hedge funds and other institutional investors.
About Omnicom Group
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.
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