Omnicom Group Inc. (OMC) Given a $96.00 Price Target by Royal Bank of Canada Analysts
Omnicom Group Inc. (NYSE:OMC) has been given a $96.00 price objective by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Saturday. The brokerage presently has a “buy” rating on the business services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 15.16% from the company’s current price.
A number of other equities analysts have also recently weighed in on OMC. Wedbush upped their price target on Omnicom Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Jefferies Group LLC restated a “hold” rating on shares of Omnicom Group in a report on Wednesday, February 8th. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Thursday, February 9th. Atlantic Securities cut Omnicom Group from a “neutral” rating to an “underweight” rating and set a $79.00 price target for the company. in a report on Wednesday, February 22nd. Finally, Bank of America Corp started coverage on Omnicom Group in a report on Thursday, March 2nd. They issued a “neutral” rating and a $91.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $86.50.
Shares of Omnicom Group (NYSE:OMC) traded up 1.20% during mid-day trading on Friday, reaching $83.36. 1,397,509 shares of the company traded hands. Omnicom Group has a 52-week low of $75.61 and a 52-week high of $89.66. The firm’s 50 day moving average price is $83.85 and its 200-day moving average price is $84.86. The company has a market capitalization of $19.40 billion, a P/E ratio of 16.99 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.01. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. Omnicom Group’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Equities analysts predict that Omnicom Group will post $5.03 earnings per share for the current fiscal year.
In other Omnicom Group news, Director Leonard S. Coleman, Jr. sold 2,038 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $83.93, for a total value of $171,049.34. Following the transaction, the director now directly owns 24,853 shares of the company’s stock, valued at approximately $2,085,912.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in shares of Omnicom Group by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 19,329,016 shares of the business services provider’s stock worth $1,575,121,000 after buying an additional 71,883 shares during the last quarter. BlackRock Inc. raised its stake in Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares in the last quarter. Vanguard Group Inc. raised its stake in Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock valued at $1,367,864,000 after buying an additional 116,893 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Omnicom Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 13,088,271 shares of the business services provider’s stock valued at $1,128,340,000 after buying an additional 245,542 shares in the last quarter. Finally, State Street Corp raised its stake in Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock valued at $850,497,000 after buying an additional 121,470 shares in the last quarter. 96.65% 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.
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