Omnicom Group (NYSE:OMC) Now Covered by Analysts at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Omnicom Group (NYSE:OMC) in a research report issued to clients and investors on Tuesday. The firm set an “equal weight” rating and a $88.00 price target on the business services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 8.22% from the company’s current price.

Several other analysts have also commented on the stock. Barclays raised their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. UBS Group boosted their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and an average price target of $92.57.

Omnicom Group Trading Up 1.0%

Shares of NYSE:OMC traded up $0.84 during trading on Tuesday, reaching $81.32. 1,001,229 shares of the company traded hands, compared to its average volume of 3,832,087. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.28 and a beta of 0.75. Omnicom Group has a 52-week low of $68.37 and a 52-week high of $90.79. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average is $75.30 and its 200-day moving average is $74.84.

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

Hedge Funds Weigh In On Omnicom Group

Large investors have recently made changes to their positions in the business. First Eagle Investment Management LLC bought a new stake in Omnicom Group during the 3rd quarter valued at approximately $515,145,000. JPMorgan Chase & Co. raised its position in shares of Omnicom Group by 117.9% during the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after buying an additional 3,362,411 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after buying an additional 2,820,553 shares in the last quarter. State Street Corp lifted its holdings in shares of Omnicom Group by 15.8% in the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after buying an additional 2,298,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Omnicom Group by 38.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after acquiring an additional 1,255,197 shares during the last quarter. 91.97% of the stock is currently 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.