Omnicom Group (NYSE:OMC) Price Target Raised to $108.00

Omnicom Group (NYSE:OMC) had its price target boosted by UBS Group from $99.00 to $108.00 in a research note released on Friday,Benzinga reports. UBS Group currently has a buy rating on the business services provider’s stock.

Several other research analysts also recently weighed in on OMC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Barclays boosted their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $97.14.

Omnicom Group Trading Up 4.7%

OMC stock opened at $73.48 on Friday. Omnicom Group has a 52-week low of $68.37 and a 52-week high of $104.03. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a market cap of $14.18 billion, a P/E ratio of 10.85, a PEG ratio of 1.17 and a beta of 0.75. The company’s 50-day simple moving average is $75.44 and its 200-day simple moving average is $74.68.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.Omnicom Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 EPS. As a group, equities analysts forecast that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 19th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 4.4%. Omnicom Group’s dividend payout ratio (DPR) is presently 41.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Severin Investments LLC purchased a new stake in shares of Omnicom Group in the third quarter valued at approximately $227,000. Allworth Financial LP boosted its stake in Omnicom Group by 19.7% during the third quarter. Allworth Financial LP now owns 3,373 shares of the business services provider’s stock worth $275,000 after buying an additional 554 shares during the last quarter. Groupama Asset Managment purchased a new stake in Omnicom Group in the 3rd quarter valued at $284,000. CIBC Private Wealth Group LLC grew its holdings in Omnicom Group by 7.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 10,890 shares of the business services provider’s stock valued at $888,000 after buying an additional 750 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Omnicom Group in the 3rd quarter worth $12,020,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.