Barclays PLC reaffirmed their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a research note issued to investors on Thursday morning. Barclays PLC currently has a $86.00 price target on the business services provider’s stock.
OMC has been the subject of a number of other reports. Bank of America Corp initiated coverage on shares of Omnicom Group in a research note on Thursday, March 2nd. They set a neutral rating and a $91.00 price objective for the company. Wedbush upped their price objective on shares of Omnicom Group from $86.00 to $90.00 and gave the company a neutral rating in a research note on Thursday, February 2nd. Atlantic Securities lowered shares of Omnicom Group from a neutral rating to an underweight rating and set a $79.00 price objective for the company. in a research note on Wednesday, February 22nd. Jefferies Group LLC reaffirmed a hold rating on shares of Omnicom Group in a research note on Wednesday, February 8th. Finally, Zacks Investment Research raised shares of Omnicom Group from a sell rating to a hold rating in a research note on Tuesday, March 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $86.92.
Omnicom Group (NYSE:OMC) traded down 0.84% during mid-day trading on Thursday, hitting $83.37. 916,787 shares of the stock traded hands. The stock has a 50-day moving average of $84.91 and a 200 day moving average of $84.62. Omnicom Group has a 1-year low of $75.61 and a 1-year high of $89.66. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 17.44 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. Omnicom Group had a net margin of 7.42% and a return on equity of 40.97%. The company earned $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the company earned $0.90 EPS. Omnicom Group’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Omnicom Group will post $5.05 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Investors of record on Thursday, March 9th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $2.20 dividend on an annualized basis and a yield of 2.62%. Omnicom Group’s dividend payout ratio is currently 45.93%.
In related news, Treasurer Dennis E. Hewitt sold 1,400 shares of the stock in a transaction that occurred on Saturday, February 11th. The stock was sold at an average price of $85.14, for a total value of $119,196.00. Following the transaction, the treasurer now owns 37,175 shares in the company, valued at $3,165,079.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OMC. Dalton Greiner Hartman Maher & Co. increased its position in shares of Omnicom Group by 3.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 139,835 shares of the business services provider’s stock valued at $12,055,000 after buying an additional 4,386 shares during the period. Retirement Systems of Alabama increased its position in shares of Omnicom Group by 1.4% in the first quarter. Retirement Systems of Alabama now owns 113,368 shares of the business services provider’s stock valued at $9,773,000 after buying an additional 1,566 shares during the period. State of Alaska Department of Revenue increased its position in shares of Omnicom Group by 17.6% in the first quarter. State of Alaska Department of Revenue now owns 22,457 shares of the business services provider’s stock valued at $1,935,000 after buying an additional 3,367 shares during the period. Huntington Steele LLC bought a new position in shares of Omnicom Group during the first quarter valued at approximately $202,000. Finally, Ledyard National Bank increased its position in shares of Omnicom Group by 5.1% in the first quarter. Ledyard National Bank now owns 2,460 shares of the business services provider’s stock valued at $212,000 after buying an additional 120 shares during the period. Institutional investors own 96.65% of the company’s stock.
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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