Omnicom Group Inc. (NYSE:OMC) Expected to Post Quarterly Sales of $3.67 Billion
Analysts expect that Omnicom Group Inc. (NYSE:OMC) will post $3.67 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Omnicom Group’s earnings, with the highest sales estimate coming in at $3.70 billion and the lowest estimate coming in at $3.63 billion. Omnicom Group reported sales of $3.79 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The business is scheduled to issue its next earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Omnicom Group will report full year sales of $3.67 billion for the current year, with estimates ranging from $15.12 billion to $15.28 billion. For the next year, analysts anticipate that the business will report sales of $15.73 billion per share, with estimates ranging from $15.69 billion to $15.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Omnicom Group.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.54% and a return on equity of 42.34%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year.
OMC has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Omnicom Group in a report on Monday, April 17th. They set an “in-line” rating and a $91.00 target price on the stock. They noted that the move was a valuation call. Royal Bank Of Canada restated a “buy” rating and set a $101.00 target price on shares of Omnicom Group in a report on Tuesday, April 11th. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $90.00 to $83.00 in a report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Finally, Barclays PLC restated a “hold” rating and set a $86.00 target price on shares of Omnicom Group in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $85.83.
Omnicom Group (NYSE:OMC) traded up 0.04% during midday trading on Friday, hitting $82.73. 2,116,652 shares of the stock were exchanged. The company has a 50 day moving average price of $82.31 and a 200 day moving average price of $84.08. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 16.87 and a beta of 1.27. Omnicom Group has a one year low of $78.67 and a one year high of $89.66.
The firm 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. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%. Omnicom Group’s dividend payout ratio (DPR) is presently 44.81%.
In other news, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction that occurred on 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 sale, the chairman now directly owns 105,250 shares in the company, valued at $8,936,777.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC purchased a new position in Omnicom Group during the first quarter valued at $164,000. Invictus RG boosted its position in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares in the last quarter. FNY Partners Fund LP boosted its position in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its position in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares in the last quarter. Finally, Huntington Steele LLC purchased a new position in Omnicom Group during the first quarter valued at $202,000. 96.68% of the stock is owned by institutional investors and hedge funds.
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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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