Omnicom Group Inc. (OMC) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Omnicom Group Inc. (NYSE:OMC) released its quarterly earnings data on Thursday. The business services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.02, MarketWatch Earnings reports. Omnicom Group had a net margin of 7.54% and a return on equity of 42.34%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis.
Omnicom Group (OMC) traded up 2.22% on Thursday, hitting $82.53. 936,727 shares of the stock traded hands. Omnicom Group has a 12-month low of $78.67 and a 12-month high of $89.66. The stock has a market cap of $19.21 billion, a P/E ratio of 16.83 and a beta of 1.27. The stock has a 50-day moving average price of $82.34 and a 200 day moving average price of $84.09.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.81%.
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Several equities research analysts have commented on OMC shares. Evercore ISI started coverage on shares of Omnicom Group in a research note on Monday, April 17th. They issued an “in-line” rating and a $91.00 price target on the stock. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and issued a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Wells Fargo & Company restated a “hold” rating on shares of Omnicom Group in a research note on Tuesday. Finally, Barclays PLC restated a “hold” rating and issued a $86.00 price target on shares of Omnicom Group in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $86.00.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in OMC. BTIM Corp. increased its position in shares of Omnicom Group by 0.4% in the second quarter. BTIM Corp. now owns 876,635 shares of the business services provider’s stock worth $72,673,000 after buying an additional 3,786 shares in the last quarter. First National Bank of Omaha increased its position in shares of Omnicom Group by 1.0% in the second quarter. First National Bank of Omaha now owns 26,392 shares of the business services provider’s stock worth $2,188,000 after buying an additional 252 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Omnicom Group during the second quarter worth $213,000. Aperio Group LLC increased its position in shares of Omnicom Group by 10.4% in the second quarter. Aperio Group LLC now owns 176,803 shares of the business services provider’s stock worth $14,657,000 after buying an additional 16,586 shares in the last quarter. Finally, Heritage Way Advisors LLC increased its position in shares of Omnicom Group by 5.1% in the second quarter. Heritage Way Advisors LLC now owns 24,775 shares of the business services provider’s stock worth $2,054,000 after buying an additional 1,200 shares in the last quarter. 96.68% of the stock is owned by institutional investors.
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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