Citigroup Inc. upgraded shares of Omnicom Group Inc. (NYSE:OMC) from a sell rating to a neutral rating in a report published on Wednesday morning, Marketbeat.com reports.
OMC has been the topic of several other research reports. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a buy rating in a report on Wednesday, August 23rd. Wells Fargo & Company restated a hold rating and issued a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Credit Suisse Group restated a neutral rating and issued a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Omnicom Group from a sell rating to a hold rating in a research report on Tuesday, June 20th. Finally, BidaskClub lowered shares of Omnicom Group from a sell rating to a strong sell rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $86.00.
Shares of Omnicom Group (NYSE OMC) opened at 72.83 on Wednesday. The firm has a market cap of $16.81 billion, a PE ratio of 14.71 and a beta of 1.27. Omnicom Group has a 12-month low of $71.63 and a 12-month high of $89.66. The company has a 50 day moving average price of $76.71 and a 200-day moving average price of $81.89.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Analysts expect that Omnicom Group will post $5.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s payout ratio is 44.44%.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now directly owns 7,724 shares in the company, valued at approximately $634,835.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction that occurred 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 transaction, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Omnicom Group by 8.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after purchasing an additional 104 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Omnicom Group during the 2nd quarter worth approximately $104,000. Acrospire Investment Management LLC purchased a new position in Omnicom Group during the 2nd quarter worth approximately $149,000. Invictus RG grew its position in Omnicom Group by 1,098.2% during the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after purchasing an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP grew its position in Omnicom Group by 46.7% during the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 98.71% 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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