Omnicom Group (NYSE:OMC) Upgraded to Hold at Argus

Argus upgraded shares of Omnicom Group (NYSE:OMC) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

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

Omnicom Group Price Performance

Omnicom Group stock opened at $75.25 on Thursday. The business’s 50-day simple moving average is $77.28 and its 200 day simple moving average is $77.00. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of 153.57, a P/E/G ratio of 0.63 and a beta of 0.71. Omnicom Group has a 12-month low of $66.33 and a 12-month high of $87.17.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share 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 firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the firm posted $2.41 earnings per share. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

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

Omnicom Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OMC. Oppenheimer Asset Management Inc. raised its position 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 worth $8,831,000 after purchasing an additional 14,368 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Omnicom Group by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock valued at $153,068,000 after buying an additional 295,379 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Omnicom Group in the 3rd quarter valued at about $870,000. National Pension Service increased its stake in shares of Omnicom Group by 35.3% in 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 increased its stake in shares of Omnicom Group by 24.2% in 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. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.