Omnicom Group Given New $68.00 Price Target at Goldman Sachs Group Inc. (OMC)
Stock analysts at Goldman Sachs Group Inc. cut their target price on shares of Omnicom Group (NYSE:OMC) from $69.00 to $68.00 in a report issued on Thursday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 7.26% from the stock’s previous close.
Omnicom Group (NYSE:OMC) traded up 2.66% on Thursday, hitting $63.40. 1,301,523 shares of the company’s stock traded hands. Omnicom Group has a 52 week low of $45.11 and a 52 week high of $70.50. The stock’s 50-day moving average is $63.20 and its 200-day moving average is $62.39. The company has a market cap of $16.306 billion and a P/E ratio of 16.59.
Omnicom Group (NYSE:OMC) last released its earnings data on Thursday, July 18th. The company reported $1.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.09. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Omnicom Group will post $3.87 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Lazard Capital Markets upgraded shares of Omnicom Group from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, September 5th. They now have a $78.00 price target on the stock. Separately, analysts at Pivotal Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. They now have a $72.00 price target on the stock, up previously from $66.00. Finally, analysts at Evercore Partners upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, August 12th. They now have a $72.00 price target on the stock, up previously from $69.00. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $64.95.
Omnicom Group Inc (NYSE:OMC) is a holding company, providing professional services to clients through multiple agencies.
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