Omnicom Group Downgraded to “Neutral” at Goldman Sachs (OMC)
Omnicom Group (NYSE:OMC) was downgraded by equities researchers at Goldman Sachs from a “buy” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $75.00 target price on the stock, down from their previous target price of $87.00. Goldman Sachs’ price target points to a potential upside of 11.47% from the stock’s previous close. The analysts noted that the move was a valuation call.
OMC has been the subject of a number of other recent research reports. Analysts at Evercore Partners cut their price target on shares of Omnicom Group from $82.00 to $75.00 in a research note on Friday, May 9th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Omnicom Group in a research note on Thursday, May 1st. They now have a $71.00 price target on the stock. Finally, analysts at Albert Fried & Company downgraded shares of Omnicom Group from a “market perform” rating to an “underweight” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.85.
Omnicom Group (NYSE:OMC) opened at 67.28 on Monday. Omnicom Group has a 52-week low of $59.70 and a 52-week high of $76.87. The stock has a 50-day moving average of $69.03 and a 200-day moving average of $71.47. The company has a market cap of $17.388 billion and a price-to-earnings ratio of 18.20.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.79 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Omnicom Group will post $4.13 EPS for the current fiscal year.
Omnicom Group Inc (NYSE:OMC) is a holding company, providing professional services to clients through multiple agencies.
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