Analysts Set Omnicom Group Inc. (NYSE:OMC) Price Target at $99.00

Omnicom Group Inc. (NYSE:OMC) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $99.00.

Several brokerages have weighed in on OMC. Wells Fargo & Company lifted their target price on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Citigroup lowered their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock.

Omnicom Group Price Performance

Shares of OMC opened at $85.58 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group has a fifty-two week low of $66.33 and a fifty-two week high of $87.41. The firm has a 50-day simple moving average of $78.70 and a 200-day simple moving average of $77.11. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 73.78, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business’s revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. On average, equities research analysts anticipate that Omnicom Group will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Institutional Investors Weigh In On Omnicom Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth $2,082,476,000. Vanguard Group Inc. increased its holdings in shares of Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $914,156,000. State Street Corp lifted its stake in shares of Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Omnicom Group by 522.9% in the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after purchasing an additional 4,364,797 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.