Zacks: Analysts Anticipate Omnicom Group Inc. (OMC) Will Post Quarterly Sales of $3.69 Billion
Brokerages forecast that Omnicom Group Inc. (NYSE:OMC) will post $3.69 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Omnicom Group’s earnings, with estimates ranging from $3.67 billion to $3.70 billion. Omnicom Group posted sales of $3.79 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The company is expected to report its next earnings report on Tuesday, October 17th.
On average, analysts expect that Omnicom Group will report full-year sales of $3.69 billion for the current financial year, with estimates ranging from $15.26 billion to $15.32 billion. For the next fiscal year, analysts expect that the firm will report sales of $15.82 billion per share, with estimates ranging from $15.76 billion to $15.88 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Omnicom Group.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year.
Several equities analysts recently issued reports on OMC shares. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Friday, July 14th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Evercore ISI started coverage on shares of Omnicom Group in a report on Monday, April 17th. They issued an “in-line” rating and a $91.00 target price on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $86.00.
Omnicom Group (OMC) opened at 78.475 on Thursday. The company’s 50-day moving average price is $81.02 and its 200-day moving average price is $83.50. Omnicom Group has a one year low of $77.50 and a one year high of $89.66. The firm has a market cap of $18.11 billion, a price-to-earnings ratio of 15.847 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.79%. Omnicom Group’s dividend payout ratio is currently 44.44%.
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In other news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now owns 105,250 shares in the company, valued at $8,936,777.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now owns 7,724 shares in the company, valued at approximately $634,835.56. The disclosure for this sale can be found here. Insiders have sold 24,183 shares of company stock worth $2,046,845 in the last quarter. Company insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in OMC. Stifel Financial Corp raised its position in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock valued at $3,613,000 after buying an additional 2,291 shares in the last quarter. Morgan Stanley raised its position in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock valued at $211,836,000 after buying an additional 175,835 shares in the last quarter. Beutel Goodman & Co Ltd. bought a new position in shares of Omnicom Group during the second quarter valued at $153,358,000. Finally, Cribstone Capital Management LLC bought a new position in shares of Omnicom Group during the first quarter valued at $164,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.
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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