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 sent to investors on Thursday. The firm issued a neutral rating and a $83.00 target price on the stock.
A number of other equities analysts have also issued reports on OMC. BMO Capital Markets reiterated a hold rating and issued a $80.00 target price on shares of Omnicom Group in a research report on Sunday, July 17th. Zacks Investment Research lowered shares of Omnicom Group from a hold rating to a sell rating in a research report on Wednesday, July 13th. Albert Fried & Company reiterated a hold rating and issued a $85.00 target price on shares of Omnicom Group in a research report on Thursday, July 14th. Finally, Telsey Advisory Group increased their target price on shares of Omnicom Group from $79.00 to $86.00 and gave the company a market perform rating in a research report on Wednesday, July 20th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Omnicom Group has an average rating of Hold and an average price target of $81.00.
Shares of Omnicom Group (NYSE:OMC) opened at 83.46 on Thursday. Omnicom Group has a 12-month low of $64.12 and a 12-month high of $87.50. The stock has a market capitalization of $19.74 billion, a P/E ratio of 18.25 and a beta of 1.33. The company 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 earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03. The firm earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. Omnicom Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. Equities analysts expect that Omnicom Group will post $4.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 48.04%.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of OMC. Quotient Investors LLC acquired a new stake in shares of Omnicom Group during the first quarter worth $555,000. Acadian Asset Management LLC acquired a new stake in shares of Omnicom Group during the first quarter worth $535,000. Webster Bank N. A. increased its stake in shares of Omnicom Group by 22.3% in the first quarter. Webster Bank N. A. now owns 4,317 shares of the company’s stock worth $359,000 after buying an additional 787 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of Omnicom Group by 7.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 58,335 shares of the company’s stock worth $4,855,000 after buying an additional 4,036 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Omnicom Group by 4.7% in the first quarter. Capstone Asset Management Co. now owns 37,845 shares of the company’s stock worth $3,150,000 after buying an additional 1,690 shares during the last quarter. 96.82% of the stock is owned by institutional investors.
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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