Omnicom Group (NYSE:OMC) Price Target Raised to $114.00

Omnicom Group (NYSE:OMC) had its price target hoisted by UBS Group from $108.00 to $114.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Bank of America reissued an “underperform” rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Morgan Stanley initiated coverage on Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Finally, Barclays increased their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.86.

Omnicom Group Trading Down 1.1%

Shares of OMC opened at $75.00 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a 50 day simple moving average of $77.57 and a two-hundred day simple moving average of $77.07. The firm has a market cap of $23.28 billion, a P/E ratio of 153.07, a price-to-earnings-growth ratio of 0.62 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period last year, the firm posted $2.41 EPS. Omnicom Group’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its Board of Directors has approved a share repurchase program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is presently 653.06%.

Institutional Trading of Omnicom Group

Several hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its holdings in Omnicom Group by 15.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock valued at $8,831,000 after purchasing an additional 14,368 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Omnicom Group by 18.7% in the third quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock worth $153,068,000 after purchasing an additional 295,379 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Omnicom Group in the third quarter worth about $870,000. National Pension Service boosted its position in shares of Omnicom Group by 35.3% during the third quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock valued at $9,063,000 after buying an additional 29,014 shares during the period. Finally, AustralianSuper Pty Ltd boosted its position in shares of Omnicom Group by 24.2% during the third quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock valued at $10,579,000 after buying an additional 25,317 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.