Analysts Set Omnicom Group Inc. (NYSE:OMC) Price Target at $99.00

Shares of Omnicom Group Inc. (NYSE:OMC) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $99.00.

Several equities analysts recently commented on OMC shares. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Citigroup lowered their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Wells Fargo & Company increased their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th.

Omnicom Group Stock Performance

Shares of OMC stock opened at $85.23 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 73.48, a P/E/G ratio of 0.57 and a beta of 0.64. Omnicom Group has a 52 week low of $66.33 and a 52 week high of $87.41. The firm’s 50-day simple moving average is $78.08 and its two-hundred day simple moving average is $76.99.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share 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 company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 63.4% on a year-over-year basis. As a group, equities analysts forecast that Omnicom Group will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Hedge Funds Weigh In On Omnicom Group

Several large investors have recently modified their holdings of OMC. Wealthfront Advisers LLC purchased a new stake in shares of Omnicom Group during the 2nd quarter valued at approximately $2,431,000. Foster & Motley Inc. purchased a new position in Omnicom Group in the 2nd quarter valued at approximately $4,503,000. Main Street Financial Solutions LLC grew its stake in Omnicom Group by 8.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 39,404 shares of the business services provider’s stock valued at $2,870,000 after buying an additional 3,197 shares in the last quarter. Meeder Advisory Services Inc. purchased a new position in Omnicom Group in the 2nd quarter valued at approximately $349,000. Finally, Meeder Asset Management Inc. bought a new stake in Omnicom Group during the 2nd quarter valued at $7,686,000. Hedge funds and other institutional investors 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.