Omnicom Group Inc. (OMC) Announces Earnings Results
Omnicom Group Inc. (NYSE:OMC) released its earnings results on Tuesday. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%.
Shares of Omnicom Group (NYSE:OMC) opened at 82.83 on Tuesday. Omnicom Group has a 52 week low of $66.48 and a 52 week high of $87.50. The company has a 50 day moving average price of $84.36 and a 200 day moving average price of $83.41. The company has a market capitalization of $19.59 billion, a PE ratio of 18.12 and a beta of 1.35.
OMC has been the topic of a number of recent analyst reports. Credit Suisse Group AG initiated coverage on Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price target on the stock. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. RBC Capital Markets reissued a “hold” rating and set a $87.00 price target on shares of Omnicom Group in a research report on Sunday, October 9th. Royal Bank Of Canada initiated coverage on Omnicom Group in a research report on Friday, October 7th. They set a “sector perform” rating and a $87.00 price target on the stock. Finally, Telsey Advisory Group boosted their price target 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 assigned a buy rating to the company’s stock. Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $83.86.
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 http://www.americanbankingnews.com/2016/10/18/omnicom-group-inc-omc-announces-earnings-results.html
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now owns 30,440 shares in the company, valued at approximately $2,573,702. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in Omnicom Group by 4.9% in the second quarter. American International Group Inc. now owns 5,373,920 shares of the company’s stock valued at $437,921,000 after buying an additional 253,058 shares during the period. Mackenzie Financial Corp raised its stake in Omnicom Group by 11.6% in the second quarter. Mackenzie Financial Corp now owns 4,021,970 shares of the company’s stock valued at $327,750,000 after buying an additional 417,049 shares during the period. BlackRock Fund Advisors raised its stake in Omnicom Group by 5.7% in the second quarter. BlackRock Fund Advisors now owns 3,868,564 shares of the company’s stock valued at $315,249,000 after buying an additional 207,968 shares during the period. Janus Capital Management LLC raised its stake in Omnicom Group by 24.5% in the second quarter. Janus Capital Management LLC now owns 3,371,376 shares of the company’s stock valued at $274,733,000 after buying an additional 662,404 shares during the period. Finally, Capital Research Global Investors raised its stake in Omnicom Group by 4.1% in the second quarter. Capital Research Global Investors now owns 2,706,334 shares of the company’s stock valued at $220,539,000 after buying an additional 106,334 shares during the period. Hedge funds and other institutional investors own 97.02% 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.
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.