Omnicom Group (NYSE:OMC) Issues Quarterly Earnings Results

Omnicom Group (NYSE:OMC) released its earnings results on Tuesday. The business services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07, Zacks reports. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year.

Omnicom Group Stock Up 0.8%

Omnicom Group stock opened at $78.80 on Wednesday. The stock has a market cap of $15.27 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group has a one year low of $68.37 and a one year high of $107.00. The stock has a fifty day moving average of $77.61 and a 200 day moving average of $74.95.

Institutional Trading of Omnicom Group

A number of hedge funds have recently bought and sold shares of OMC. EverSource Wealth Advisors LLC increased its position in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Omnicom Group during the second quarter valued at $241,000. Gabelli Funds LLC purchased a new stake in Omnicom Group during the second quarter valued at $1,061,000. Daiwa Securities Group Inc. increased its position in Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. increased its position in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after acquiring an additional 44,746 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of several analyst reports. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.29.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.