Omnicom Group Inc. (OMC) Earns Hold Rating from BMO Capital Markets
Omnicom Group Inc. (NYSE:OMC)‘s stock had its “hold” rating reiterated by research analysts at BMO Capital Markets in a research note issued to investors on Wednesday. They currently have a $85.00 target price on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 16.53% from the stock’s previous close.
A number of other research firms have also recently weighed in on OMC. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Friday, July 14th. BidaskClub cut 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 stock a “buy” rating in a research note on Saturday, July 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a report on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and an average target price of $85.92.
Omnicom Group (NYSE OMC) traded up 1.268% on Wednesday, reaching $73.865. The company’s stock had a trading volume of 904,284 shares. The firm’s 50 day moving average is $76.18 and its 200-day moving average is $81.66. Omnicom Group has a 12 month low of $71.63 and a 12 month high of $89.66. The firm has a market cap of $17.04 billion, a P/E ratio of 14.916 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts anticipate that Omnicom Group will post $5.08 EPS for the current year.
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 transaction, the director now owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the transaction, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised 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 period. Dupont Capital Management Corp bought a new stake in shares of Omnicom Group during the second quarter worth about $104,000. Acrospire Investment Management LLC bought a new stake in shares of Omnicom Group during the second quarter worth about $149,000. Invictus RG increased its position 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 worth $170,000 after acquiring an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP increased its position 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 worth $189,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 98.71% 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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