Omnicom Group Inc. (OMC) PT Set at $96.00 by Royal Bank Of Canada
Omnicom Group Inc. (NYSE:OMC) has been assigned a $96.00 price target by equities research analysts at Royal Bank Of Canada in a research report issued on Saturday. The firm currently has a “buy” rating on the business services provider’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 16.04% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research report on Friday, July 14th. Credit Suisse Group reiterated a “neutral” rating and set a $79.00 price target (down from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Finally, BidaskClub cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two investment 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. Omnicom Group presently 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. The stock had a trading volume of 2,126,652 shares. Omnicom Group has a one year low of $78.67 and a one year high of $89.66. The stock 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 cap of $19.09 billion, a PE ratio of 16.71 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.70% and a net margin of 7.61%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts predict that Omnicom Group will post $5.05 earnings per share for the current year.
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In related news, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now directly owns 105,250 shares in the company, valued at $8,936,777.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC bought a new stake in Omnicom Group during the first quarter valued at $164,000. Invictus RG increased its position in shares of 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 during the last quarter. FNY Partners Fund LP increased its position in shares of 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 during the last quarter. Global X Management Co. LLC increased its position in shares of 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 during the last quarter. Finally, Huntington Steele LLC acquired a new position in shares of Omnicom Group during the first quarter valued at approximately $202,000. Institutional investors own 96.68% 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.
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