$3.69 Billion in Sales Expected for Omnicom Group Inc. (OMC) This Quarter
Wall Street analysts expect that Omnicom Group Inc. (NYSE:OMC) will report $3.69 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Omnicom Group’s earnings. The lowest sales estimate is $3.67 billion and the highest is $3.70 billion. Omnicom Group posted sales of $3.79 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Omnicom Group will report full year sales of $3.69 billion for the current year, with estimates ranging from $15.26 billion to $15.32 billion. For the next fiscal year, analysts expect that the company will report sales of $15.82 billion per share, with estimates ranging from $15.76 billion to $15.88 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Omnicom Group.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS.
Several research analysts recently weighed in on OMC shares. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Friday, July 14th. BidaskClub downgraded shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $79.00 target price (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $71,199.00. Following the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,183 shares of company stock valued at $2,046,845. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently modified their holdings of OMC. Toronto Dominion Bank boosted its stake in shares of Omnicom Group by 43.0% in the second quarter. Toronto Dominion Bank now owns 104,807 shares of the business services provider’s stock worth $8,691,000 after buying an additional 31,527 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Omnicom Group during the second quarter worth about $1,408,000. Security National Bank of SO Dak boosted its stake in shares of Omnicom Group by 1.0% in the second quarter. Security National Bank of SO Dak now owns 9,959 shares of the business services provider’s stock worth $825,000 after buying an additional 100 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its stake in shares of Omnicom Group by 0.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 11,858 shares of the business services provider’s stock worth $983,000 after buying an additional 35 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its stake in shares of Omnicom Group by 114.2% in the second quarter. Nomura Holdings Inc. now owns 29,844 shares of the business services provider’s stock worth $2,474,000 after buying an additional 15,910 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.
Shares of Omnicom Group (NYSE OMC) opened at 73.13 on Monday. Omnicom Group has a 12 month low of $72.64 and a 12 month high of $89.66. The stock’s 50 day moving average is $79.00 and its 200 day moving average is $82.71. The company has a market capitalization of $16.88 billion, a P/E ratio of 14.77 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://theolympiareport.com/2017/08/28/3-69-billion-in-sales-expected-for-omnicom-group-inc-omc-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.