Jefferies Group Weighs in on Omnicom Group Inc.’s FY2017 Earnings (OMC)
Omnicom Group Inc. (NYSE:OMC) – Research analysts at Jefferies Group boosted their FY2017 EPS estimates for Omnicom Group in a report released on Wednesday. Jefferies Group analyst J. Janedis now expects that the business services provider will earn $5.10 per share for the year, up from their prior forecast of $5.09. Jefferies Group has a “Hold” rating and a $82.00 price target on the stock. Jefferies Group also issued estimates for Omnicom Group’s Q3 2018 earnings at $1.19 EPS.
Other research analysts have also issued reports about the company. TheStreet lowered Omnicom Group from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. BMO Capital Markets restated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research report on Wednesday, September 13th. Royal Bank of Canada reduced their price target on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. Telsey Advisory Group upgraded Omnicom Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $86.00 to $89.00 in a research report on Wednesday, October 18th. Finally, Morgan Stanley lowered Omnicom Group from an “equal weight” rating to an “underweight” rating and set a $72.00 price target on the stock. in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $84.00.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. Omnicom Group’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Omnicom Group by 0.3% during the third quarter. Swiss National Bank now owns 859,077 shares of the business services provider’s stock worth $63,632,000 after acquiring an additional 2,200 shares during the period. Jensen Investment Management Inc. raised its position in shares of Omnicom Group by 11.3% in the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after buying an additional 354,285 shares in the last quarter. Cambridge Trust Co. acquired a new stake in shares of Omnicom Group in the third quarter valued at approximately $319,000. Chatham Capital Group Inc. raised its position in shares of Omnicom Group by 2.7% in the second quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock valued at $9,233,000 after buying an additional 2,965 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Omnicom Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock valued at $2,271,000 after buying an additional 3,822 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.
In other news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the transaction, the director now owns 7,777 shares in the company, valued at approximately $577,986.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter K. Sherman sold 8,310 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $74.31, for a total value of $617,516.10. Following the completion of the transaction, the insider now owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 19th will be paid a $0.60 dividend. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. The ex-dividend date is Monday, December 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.23%. Omnicom Group’s dividend payout ratio (DPR) is currently 43.82%.
About Omnicom Group
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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