Omnicom Group Inc. (OMC) Raised to Buy at Argus
Omnicom Group Inc. (NYSE:OMC) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
OMC has been the topic of a number of other reports. Credit Suisse Group reduced their price target on shares of Omnicom Group from $79.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 target price on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Citigroup Inc. raised shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.00.
Omnicom Group (OMC) opened at 67.52 on Tuesday. Omnicom Group has a 52 week low of $67.25 and a 52 week high of $89.66. The firm has a 50-day moving average of $73.68 and a 200-day moving average of $78.87. The company has a market capitalization of $15.58 billion, a P/E ratio of 13.44 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.69 billion. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. Analysts anticipate that Omnicom Group will post $5.11 EPS for the current fiscal year.
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In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total transaction of $36,342.48. Following the completion of the transaction, the director now owns 7,777 shares in the company, valued at approximately $577,986.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Omnicom Group by 8.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after acquiring an additional 104 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Omnicom Group during the 2nd quarter worth approximately $104,000. Acrospire Investment Management LLC acquired a new position in Omnicom Group during the 2nd quarter worth approximately $149,000. FNY Partners Fund LP grew its holdings in Omnicom Group by 46.7% during the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after acquiring an additional 700 shares in the last quarter. Finally, Eagle Ridge Investment Management acquired a new position in Omnicom Group during the 3rd quarter worth approximately $201,000. Institutional investors own 98.97% 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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