Zacks: Analysts Anticipate Omnicom Group Inc. (OMC) Will Announce Quarterly Sales of $3.69 Billion
Analysts expect Omnicom Group Inc. (NYSE:OMC) to announce sales of $3.69 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Omnicom Group’s earnings. The lowest sales estimate is $3.67 billion and the highest is $3.70 billion. Omnicom Group reported sales of $3.79 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 2.6%. The firm is scheduled to issue its next earnings results on Tuesday, October 17th.
According to Zacks, 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 forecast that the business 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 firms that cover Omnicom Group.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share.
Several research firms have recently issued reports on OMC. Citigroup Inc. raised Omnicom Group from a “sell” rating to a “neutral” rating in a report on Wednesday, September 6th. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a research report on Thursday, September 21st. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, BidaskClub cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $85.92.
Shares of Omnicom Group (NYSE OMC) traded up 0.40% on Thursday, reaching $76.12. The company had a trading volume of 162,056 shares. The stock has a 50-day moving average price of $74.17 and a 200-day moving average price of $80.46. The stock has a market cap of $17.56 billion, a PE ratio of 15.37 and a beta of 1.28. Omnicom Group has a 12 month low of $71.63 and a 12 month high of $89.66.
The business also recently declared 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 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s payout ratio is currently 44.44%.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the company’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 transaction, the director now directly owns 7,724 shares in the company, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the transaction, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of OMC. BlackRock Inc. lifted its position in shares of Omnicom Group by 3,091.8% in the 1st quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after purchasing an additional 16,507,161 shares during the period. Janus Henderson Group PLC lifted its position in Omnicom Group by 15,279.3% during the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after acquiring an additional 4,963,787 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in Omnicom Group during the second quarter valued at approximately $153,358,000. Nordea Investment Management AB lifted its position in Omnicom Group by 501.5% during the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock valued at $182,531,000 after acquiring an additional 1,835,749 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Omnicom Group by 90.0% during the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after acquiring an additional 1,256,005 shares during the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.
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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