Omnicom Group Inc. (OMC) Receives “Hold” Rating from BMO Capital Markets

BMO Capital Markets reissued their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a report published on Wednesday morning. BMO Capital Markets currently has a $85.00 price objective on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. 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. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a buy rating in a research note on Tuesday, June 20th. Wells Fargo & Company reiterated 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 reiterated a hold rating and set a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Macquarie downgraded Omnicom Group from an outperform rating to a neutral rating and cut their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $85.92.

Shares of Omnicom Group (NYSE:OMC) opened at 73.04 on Wednesday. Omnicom Group has a one year low of $71.63 and a one year high of $89.66. The firm’s 50-day moving average price is $75.69 and its 200 day moving average price is $81.45. The firm has a market cap of $16.85 billion, a P/E ratio of 14.75 and a beta of 1.27.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 EPS. Analysts predict that Omnicom Group will post $5.08 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 3.01%. Omnicom Group’s payout ratio is currently 44.44%.

In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, 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. Company insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its holdings in shares of Omnicom Group by 17.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 9,491 shares of the business services provider’s stock valued at $793,000 after acquiring an additional 1,387 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Omnicom Group by 43.0% in the 2nd quarter. Toronto Dominion Bank now owns 104,807 shares of the business services provider’s stock valued at $8,691,000 after acquiring an additional 31,527 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Omnicom Group in the 2nd quarter valued at about $1,408,000. Security National Bank of SO Dak raised its holdings in shares of Omnicom Group by 1.0% in the 2nd quarter. Security National Bank of SO Dak now owns 9,959 shares of the business services provider’s stock valued at $825,000 after acquiring an additional 100 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA raised its holdings in shares of Omnicom Group by 0.3% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 11,858 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 35 shares in the last quarter. 98.71% 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.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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