Brokerages Anticipate Omnicom Group Inc. (NYSE:OMC) Will Announce Earnings of $1.10 Per Share
Wall Street brokerages expect Omnicom Group Inc. (NYSE:OMC) to announce $1.10 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Omnicom Group’s earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.12. Omnicom Group reported earnings of $1.06 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is expected to announce its next quarterly earnings report on Tuesday, October 17th.
On average, analysts expect that Omnicom Group will report full-year earnings of $5.08 per share for the current year, with EPS estimates ranging from $5.02 to $5.10. For the next financial year, analysts forecast that the firm will report earnings of $5.43 per share, with EPS estimates ranging from $5.40 to $5.48. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Omnicom Group.
Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% 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 period in the prior year, the firm earned $1.36 EPS. The firm’s revenue was down 2.4% on a year-over-year basis.
Several equities research analysts recently commented on OMC shares. Evercore ISI initiated coverage on shares of Omnicom Group in a research note on Monday, April 17th. They set 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 objective (down from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Wells Fargo & Company restated a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Barclays PLC restated a “hold” rating and issued a $86.00 price objective on shares of Omnicom Group in a research note on Thursday, April 20th. Two 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 company. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.00.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/08/brokerages-anticipate-omnicom-group-inc-nyseomc-will-announce-earnings-of-1-10-per-share.html.
Omnicom Group (NYSE OMC) traded down 0.120% during trading on Tuesday, hitting $78.965. The company had a trading volume of 726,782 shares. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of 15.946 and a beta of 1.25. Omnicom Group has a 52-week low of $77.50 and a 52-week high of $89.66. The firm’s 50 day moving average is $81.66 and its 200-day moving average is $83.74.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
In related 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 transaction of $1,935,948.00. Following the sale, the chairman now owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now directly owns 7,724 shares in the company, valued at approximately $634,835.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,183 shares of company stock worth $2,046,845. 1.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased 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 worth $1,469,108,000 after buying an additional 16,507,161 shares in the last quarter. Vanguard Group Inc. increased 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 worth $1,367,864,000 after buying an additional 116,893 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Omnicom Group by 2.6% in the second quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock worth $1,113,320,000 after buying an additional 341,406 shares in the last quarter. State Street Corp increased 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 worth $850,497,000 after buying an additional 121,470 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock worth $495,658,000 after buying an additional 1,049,746 shares in the last quarter. 98.68% of the stock is currently owned by hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.