Omnicom Group (NYSE:OMC) Stock Gets Price Target Reduction from Barclays

Omnicom Group (NYSE:OMC) had its price target cut by Barclays from $90.00 to $88.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on OMC. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Argus raised Omnicom Group to a “hold” rating in a report on Monday, September 14th. Wells Fargo & Company upped their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citigroup dropped their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Zacks Research raised Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $98.75.

Omnicom Group Stock Performance

NYSE OMC opened at $76.43 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 65.89, a P/E/G ratio of 0.65 and a beta of 0.68. The firm’s 50 day simple moving average is $81.26 and its 200 day simple moving average is $78.20. Omnicom Group has a 1 year low of $66.33 and a 1 year high of $89.57.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the business earned $2.05 earnings per share. The business’s revenue was up 63.4% compared to the same quarter last year. As a group, research analysts expect that Omnicom Group will post 10.50 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 18th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Insider Transactions at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Omnicom Group

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Omnicom Group during the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group in the 2nd quarter worth about $914,156,000. First Eagle Investment Management LLC lifted its stake in shares of Omnicom Group by 0.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock valued at $534,806,000 after purchasing an additional 40,096 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Omnicom Group by 3.0% in the 2nd quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock valued at $353,380,000 after purchasing an additional 142,082 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Omnicom Group by 116.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock valued at $214,451,000 after purchasing an additional 1,530,743 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.