Omnicom Group’s (OMC) “Hold” Rating Reaffirmed at RBC Capital Markets
Omnicom Group Inc. (NYSE:OMC)‘s stock had its “hold” rating reiterated by equities researchers at RBC Capital Markets in a report issued on Sunday. They presently have a $87.00 price objective on the stock. RBC Capital Markets’ target price indicates a potential upside of 5.79% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Telsey Advisory Group increased their target price on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Royal Bank Of Canada initiated coverage on shares of Omnicom Group in a report on Friday. They set a “sector perform” rating and a $87.00 target price for the company. Credit Suisse Group AG initiated coverage on shares of Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 target price for the company. Finally, Albert Fried & Company reiterated a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a report on Thursday, July 14th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $82.64.
Omnicom Group (NYSE:OMC) traded down 0.99% during trading on Friday, reaching $82.24. The company’s stock had a trading volume of 1,837,949 shares. Omnicom Group has a one year low of $66.48 and a one year high of $87.50. The company has a 50-day moving average of $84.69 and a 200 day moving average of $83.39. The firm has a market cap of $19.45 billion, a PE ratio of 17.99 and a beta of 1.35.
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Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. The company earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. Omnicom Group’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Analysts expect that Omnicom Group will post $4.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 48.04%.
In other news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of OMC. Independent Portfolio Consultants Inc. boosted its stake in Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in Omnicom Group by 18.2% in the third quarter. Eqis Capital Management Inc. now owns 14,353 shares of the company’s stock worth $1,220,000 after buying an additional 2,214 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Omnicom Group by 12.7% in the second quarter. Macquarie Group Ltd. now owns 157,426 shares of the company’s stock worth $12,828,000 after buying an additional 17,714 shares during the last quarter. Carnick & Kubik Group LLC purchased a new stake in Omnicom Group during the second quarter worth approximately $342,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Omnicom Group during the second quarter worth approximately $782,000. 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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