Credit Suisse Group Increases Omnicom Group Inc. (OMC) Price Target to $80.00
Omnicom Group Inc. (NYSE:OMC) had its price target increased by equities researchers at Credit Suisse Group from $78.00 to $80.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price target points to a potential upside of 6.03% from the stock’s previous close.
Several other analysts have also weighed in on the company. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Friday, July 14th. Telsey Advisory Group raised Omnicom Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $86.00 to $89.00 in a report on Wednesday. BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $84.00.
Omnicom Group (OMC) traded down 0.19% on Wednesday, hitting $75.45. The stock had a trading volume of 2,558,482 shares. The firm has a market cap of $17.41 billion, a PE ratio of 15.24 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 company’s 50 day moving average is $73.93 and its 200 day moving average is $79.93.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Omnicom Group will post $5.11 EPS for the current fiscal year.
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In other news, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Dupont Capital Management Corp bought a new position in shares of Omnicom Group during the second quarter valued at approximately $104,000. Parallel Advisors LLC grew its holdings in shares of Omnicom Group by 8.7% during 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 bought a new position in shares of Omnicom Group during the second quarter valued at approximately $149,000. Invictus RG grew its holdings in shares of Omnicom Group by 1,098.2% during 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 grew its holdings in shares of Omnicom Group by 46.7% during 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. 98.57% 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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