Q3 2016 EPS Estimates for Omnicom Group Inc. Increased by Analyst (OMC)
Omnicom Group Inc. (NYSE:OMC) – Analysts at Jefferies Group increased their Q3 2016 earnings estimates for Omnicom Group in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will post earnings per share of $1.04 for the quarter, up from their prior forecast of $1.03.
Several other equities analysts have also recently issued reports on OMC. RBC Capital Markets reiterated a “hold” rating and set a $87.00 target price on shares of Omnicom Group in a research report on Sunday. Royal Bank Of Canada assumed coverage on Omnicom Group in a research report on Friday, October 7th. They set a “sector perform” rating and a $87.00 target price on the stock. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Thursday, October 6th. Credit Suisse Group AG assumed coverage on Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Telsey Advisory Group boosted their target price on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 20th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Omnicom Group presently has a consensus rating of “Hold” and an average price target of $82.64.
Shares of Omnicom Group (NYSE:OMC) traded up 0.9705% during midday trading on Wednesday, hitting $82.7352. The company had a trading volume of 474,081 shares. The firm has a market capitalization of $19.57 billion, a PE ratio of 18.0961 and a beta of 1.35. The company has a 50-day moving average of $84.58 and a 200 day moving average of $83.42. Omnicom Group has a 12 month low of $66.48 and a 12 month high of $87.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/q3-2016-eps-estimates-for-omnicom-group-inc-increased-by-analyst-omc.html
The business also recently announced a quarterly dividend, which was paid on Monday, October 10th. Investors of record on Thursday, September 22nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, September 20th. Omnicom Group’s payout ratio is currently 48.04%.
In related news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the sale, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in shares of Omnicom Group during the first quarter worth $40,095,000. Cypress Capital Group raised its position in shares of Omnicom Group by 58.3% in the first quarter. Cypress Capital Group now owns 11,794 shares of the company’s stock worth $982,000 after buying an additional 4,344 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Omnicom Group by 88.1% in the second quarter. Acadian Asset Management LLC now owns 12,086 shares of the company’s stock worth $984,000 after buying an additional 5,662 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Omnicom Group by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 211,987 shares of the company’s stock worth $17,275,000 after buying an additional 772 shares in the last quarter. Finally, PGGM Investments raised its position in shares of Omnicom Group by 7.0% in the second quarter. PGGM Investments now owns 527,331 shares of the company’s stock worth $42,972,000 after buying an additional 34,588 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.