Omnicom Group (NYSE:OMC) Price Target Raised to $85.00 at Wells Fargo & Company


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Omnicom Group (NYSE:OMC) had its price objective upped by Wells Fargo & Company from $75.00 to $85.00 in a report issued on Wednesday, The Fly reports. They currently have an equal weight rating on the business services provider’s stock.

Shares of NYSE OMC opened at $80.59 on Wednesday. The stock has a 50-day moving average price of $76.59 and a two-hundred day moving average price of $64.53. Omnicom Group has a 12 month low of $44.50 and a 12 month high of $80.99. The company has a current ratio of 0.98, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.58 and a beta of 0.87.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Monday, April 19th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.20. Omnicom Group had a return on equity of 36.90% and a net margin of 7.10%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Omnicom Group will post 4.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 8th. Stockholders of record on Wednesday, March 10th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.65. Omnicom Group’s dividend payout ratio is currently 46.20%.

Institutional investors have recently added to or reduced their stakes in the company. Phoenix Wealth Advisors bought a new stake in Omnicom Group in the fourth quarter valued at approximately $25,000. Bogart Wealth LLC boosted its holdings in Omnicom Group by 222.1% in the first quarter. Bogart Wealth LLC now owns 422 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 291 shares during the last quarter. tru Independence LLC bought a new stake in Omnicom Group in the fourth quarter valued at approximately $37,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Omnicom Group by 36.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 602 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 162 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in Omnicom Group in the fourth quarter valued at approximately $40,000. 92.76% of the stock is owned by institutional investors.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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