Jefferies Group LLC restated their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a research report report published on Thursday. The brokerage currently has a $82.00 price target on the business services provider’s stock.
A number of other equities research analysts also recently weighed in on OMC. BidaskClub downgraded shares of Omnicom Group from a sell rating to a strong sell rating in a research note on Tuesday, August 1st. BMO Capital Markets reiterated a hold rating and set a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of Omnicom Group from a buy rating to a hold rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a buy rating in a research note on Wednesday, August 23rd. Finally, Macquarie downgraded shares of Omnicom Group from an outperform rating to a neutral rating and decreased their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $85.92.
Shares of Omnicom Group (OMC) opened at 75.00 on Thursday. 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 is $75.34 and its 200-day moving average is $81.20. The firm has a market capitalization of $17.31 billion, a PE ratio of 15.15 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. On average, equities research analysts predict that Omnicom Group will post $5.08 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.93%. Omnicom Group’s payout ratio is presently 44.44%.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Perigon Wealth Management LLC lifted its holdings in shares of Omnicom Group by 17.1% during the second 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 during the period. Toronto Dominion Bank lifted its holdings in shares of Omnicom Group by 43.0% during the second 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 during the period. BB&T Investment Services Inc. bought a new position in shares of Omnicom Group during the second quarter valued at $1,408,000. Security National Bank of SO Dak lifted its holdings in shares of Omnicom Group by 1.0% during the second 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 during the period. Finally, Security National Bank of Sioux City Iowa IA lifted its holdings in shares of Omnicom Group by 0.3% during the second 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 during the period. 98.60% of the stock is owned by institutional investors.
Omnicom Group Company Profile
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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