Jefferies Group LLC Reiterates “Hold” Rating for Omnicom Group Inc. (OMC)
Omnicom Group Inc. (NYSE:OMC)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $82.00 target price on the business services provider’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 10.27% from the company’s previous close.
A number of other research firms have also recently commented on OMC. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, July 14th. BidaskClub cut shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, July 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price target (down from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.92.
Shares of Omnicom Group (NYSE OMC) traded up 0.57% during trading on Thursday, hitting $74.23. 2,043,537 shares of the stock traded hands. The stock has a market cap of $17.13 billion, a PE ratio of 14.99 and a beta of 1.27. Omnicom Group has a 12 month low of $71.63 and a 12 month high of $89.66. The firm’s 50-day moving average price is $75.34 and its 200-day moving average price is $81.20.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the company earned $1.36 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts anticipate that Omnicom Group will post $5.08 EPS for the current year.
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In other news, Director Linda Johnson Rice sold 483 shares of the business’s 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 sale, the director now owns 7,724 shares in the company, valued at approximately $634,835.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of OMC. Parallel Advisors LLC raised its holdings in shares of 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 purchasing an additional 104 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $104,000. Acrospire Investment Management LLC bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $149,000. Invictus RG raised its holdings in shares of 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 purchasing an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP raised its holdings in shares of 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 purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 98.60% 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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