Omnicom Group Inc. (NYSE:OMC) had its target price lowered by equities researchers at Credit Suisse Group from $79.00 to $78.00 in a report released on Wednesday. The brokerage currently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 4.77% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Friday, July 14th. Citigroup Inc. raised Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a research report on Wednesday, September 13th. Finally, Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and an average target price of $85.85.

Shares of Omnicom Group (OMC) traded down 0.23% on Wednesday, reaching $74.28. 2,009,079 shares of the company’s stock traded hands. The firm’s 50 day moving average is $73.91 and its 200 day moving average is $80.16. Omnicom Group has a 52 week low of $71.63 and a 52 week high of $89.66. The firm has a market capitalization of $17.14 billion, a P/E ratio of 15.01 and a beta of 1.28.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Analysts expect that Omnicom Group will post $5.08 earnings per share for the current fiscal year.

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In other news, Treasurer Dennis E. Hewitt sold 900 shares of the business’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 directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a filing with the SEC, which is accessible 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 value of $39,697.77. Following 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.

Several institutional investors have recently made changes to their positions in OMC. BlackRock Inc. grew its position in shares of Omnicom Group by 3,091.8% during 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. Janus Henderson Group PLC grew its position in shares of 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 worth $414,191,000 after buying an additional 4,963,787 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new position in shares of Omnicom Group during the second quarter worth about $153,358,000. Nordea Investment Management AB grew its position in shares of 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 worth $182,531,000 after buying an additional 1,835,749 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of 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 worth $219,876,000 after buying an additional 1,256,005 shares in the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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