Omnicom Group Inc. (OMC) Expected to Announce Quarterly Sales of $3.69 Billion
Wall Street analysts forecast that Omnicom Group Inc. (NYSE:OMC) will announce sales of $3.69 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Omnicom Group’s earnings, with estimates ranging from $3.67 billion to $3.70 billion. Omnicom Group posted sales of $3.79 billion in the same quarter last year, which would indicate a negative year over year growth rate of 2.6%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that Omnicom Group will report full-year sales of $3.69 billion for the current fiscal year, with estimates ranging from $15.26 billion to $15.32 billion. For the next financial year, analysts expect that the firm will post sales of $15.82 billion per share, with estimates ranging from $15.76 billion to $15.88 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Omnicom Group.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share.
A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, May 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Citigroup Inc. raised shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.92.
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In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp bought a new position in shares of Omnicom Group in the second quarter valued at $104,000. Parallel Advisors LLC raised its holdings in shares of Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 104 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at about $149,000. Invictus RG raised its holdings 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 purchasing an additional 1,812 shares during the last quarter. Finally, FNY Partners Fund LP raised its holdings 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 purchasing an additional 700 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Omnicom Group (NYSE OMC) traded down 0.34% during trading on Friday, hitting $73.04. 2,918,201 shares of the stock were exchanged. The stock has a market cap of $16.85 billion, a P/E ratio of 14.75 and a beta of 1.27. The firm’s 50 day moving average price is $75.69 and its 200-day moving average price is $81.45. Omnicom Group has a 52 week low of $71.63 and a 52 week high of $89.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is 44.44%.
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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