Omnicom Group Inc. (OMC) Upgraded at Citigroup Inc.
Omnicom Group Inc. (NYSE:OMC) was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat.com reports.
OMC has been the topic of several other research reports. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $90.00 to $83.00 in a report on Tuesday, June 6th. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. BidaskClub lowered Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a report on Tuesday, July 18th. 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’s stock. Omnicom Group has a consensus rating of “Hold” and an average target price of $86.00.
Omnicom Group (NYSE OMC) traded up 0.50% on Wednesday, reaching $72.83. 1,331,920 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $76.71 and a 200 day moving average price of $81.89. The firm has a market cap of $16.81 billion, a PE ratio of 14.71 and a beta of 1.27. Omnicom Group has a one year low of $71.63 and a one year high of $89.66.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping 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 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 firm earned $1.36 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Omnicom Group will post $5.08 earnings per share for the current year.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMC. Parallel Advisors LLC grew its position in Omnicom Group by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 104 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Omnicom Group in the 2nd quarter valued at about $104,000. Acrospire Investment Management LLC acquired a new position in Omnicom Group in the 2nd quarter valued at about $149,000. Invictus RG grew its position in Omnicom Group by 1,098.2% in the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP grew its position in Omnicom Group by 46.7% in the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 700 shares in the last quarter. 98.71% 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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