Omnicom Group Inc. (OMC) Earns Neutral Rating from Analysts at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research report released on Thursday morning. The firm issued a neutral rating and a $83.00 target price on the stock.
OMC has been the subject of several other research reports. Zacks Investment Research upgraded shares of Omnicom Group from a sell rating to a hold rating in a research note on Monday, September 12th. Telsey Advisory Group raised their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the company a market perform rating in a research note on Wednesday, July 20th. Albert Fried & Company reiterated a hold rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, BMO Capital Markets reiterated a hold rating and issued a $80.00 price objective on shares of Omnicom Group in a research note on Sunday, July 17th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Omnicom Group presently has an average rating of Hold and an average price target of $81.00.
Omnicom Group (NYSE:OMC) opened at 83.46 on Thursday. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 18.25 and a beta of 1.33. Omnicom Group has a one year low of $64.12 and a one year high of $87.50. The stock has a 50 day moving average of $84.20 and a 200 day moving average of $82.95.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 14th. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The firm earned $3.88 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Omnicom Group will post $4.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.62%. Omnicom Group’s dividend payout ratio (DPR) is presently 48.04%.
In other news, Director Linda Johnson Rice sold 824 shares of Omnicom Group stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in Omnicom Group by 12.7% in the second quarter. Macquarie Group Ltd. now owns 157,426 shares of the company’s stock worth $12,828,000 after buying an additional 17,714 shares during the last quarter. Carnick & Kubik Group LLC bought a new stake in Omnicom Group during the second quarter worth about $342,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Omnicom Group during the second quarter worth about $782,000. Kentucky Retirement Systems bought a new stake in Omnicom Group during the second quarter worth about $1,648,000. Finally, Mason Street Advisors LLC bought a new stake in Omnicom Group during the second quarter worth about $2,610,000. Institutional investors and hedge funds own 96.82% 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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