BMO Capital Markets restated their hold rating on shares of Omnicom Group Inc. (NYSE:OMC) in a research report released on Wednesday. BMO Capital Markets currently has a $85.00 price target on the business services provider’s stock.
Several other analysts have also recently issued reports on OMC. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a buy rating in a research note on Tuesday, June 20th. BidaskClub cut Omnicom Group from a hold rating to a sell rating in a research note on Wednesday, July 12th. Credit Suisse Group reiterated a neutral rating and issued a $79.00 price objective (down from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Zacks Investment Research upgraded Omnicom Group from a hold rating to a buy rating and set a $91.00 price objective on the stock in a research note on Friday, July 14th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $84.00.
Omnicom Group (NYSE:OMC) traded down 3.30% on Wednesday, reaching $72.96. The company’s stock had a trading volume of 3,467,306 shares. The company has a 50 day moving average of $74.07 and a 200 day moving average of $79.74. Omnicom Group has a 52 week low of $71.63 and a 52 week high of $89.66. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 14.52 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a return on equity of 43.47% and a net margin of 7.72%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, analysts forecast that Omnicom Group will post $5.09 earnings per share for the current year.
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In other news, Director Linda Johnson Rice sold 483 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Omnicom Group by 8.7% during the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after buying an additional 104 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Omnicom Group during the second quarter worth about $104,000. Acrospire Investment Management LLC acquired a new stake in shares of Omnicom Group during the second quarter worth about $149,000. Invictus RG boosted its stake in shares of Omnicom Group by 1,098.2% during the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares during the period. Finally, FNY Partners Fund LP boosted its stake in shares of Omnicom Group by 46.7% during the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.
About Omnicom Group
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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