Credit Suisse Group AG initiated coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research note released on Thursday. The firm issued a neutral rating and a $83.00 price objective on the stock.
Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a hold rating and set a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Albert Fried & Company reissued a hold rating and set a $85.00 target price on shares of Omnicom Group in a report on Thursday, July 14th. Zacks Investment Research raised Omnicom Group from a sell rating to a hold rating in a report on Monday, September 12th. Finally, Telsey Advisory Group lifted their target price on Omnicom Group from $79.00 to $86.00 and gave the stock a market perform rating in a report on Wednesday, July 20th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $81.00.
Omnicom Group (NYSE:OMC) opened at 84.05 on Thursday. The company’s 50-day moving average is $84.24 and its 200 day moving average is $82.99. Omnicom Group has a 12 month low of $64.12 and a 12 month high of $87.50. The firm has a market cap of $19.88 billion, a P/E ratio of 18.38 and a beta of 1.33.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The business earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Omnicom Group will post $4.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s dividend payout ratio is presently 48.04%.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of Omnicom Group stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the transaction, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quotient Investors LLC acquired a new position in Omnicom Group during the first quarter worth about $555,000. Acadian Asset Management LLC acquired a new position in Omnicom Group during the first quarter worth about $535,000. Webster Bank N. A. boosted its position in Omnicom Group by 22.3% in the first quarter. Webster Bank N. A. now owns 4,317 shares of the company’s stock worth $359,000 after buying an additional 787 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Omnicom Group by 7.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 58,335 shares of the company’s stock worth $4,855,000 after buying an additional 4,036 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in Omnicom Group by 4.7% in the first quarter. Capstone Asset Management Co. now owns 37,845 shares of the company’s stock worth $3,150,000 after buying an additional 1,690 shares in the last quarter. Hedge funds and other institutional investors own 97.04% 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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