Omnicom Group Inc. (NYSE:OMC) Receives $106.30 Average Price Target from Brokerages

Shares of Omnicom Group Inc. (NYSE:OMC) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $107.30.

Several research firms have recently weighed in on OMC. UBS Group boosted their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America lifted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Macquarie reissued an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently modified their holdings of OMC. Richardson Financial Services Inc. bought a new position in Omnicom Group during the fourth quarter valued at approximately $29,000. Davis Capital Management purchased a new stake in shares of Omnicom Group during the 3rd quarter worth approximately $36,000. Innealta Capital LLC bought a new position in shares of Omnicom Group during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Omnicom Group in the second quarter valued at $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Omnicom Group in the first quarter worth $50,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC opened at $101.02 on Friday. The firm has a market cap of $19.78 billion, a PE ratio of 13.65, a P/E/G ratio of 2.38 and a beta of 0.94. The stock has a 50-day moving average price of $98.28 and a 200-day moving average price of $94.62. Omnicom Group has a 1 year low of $72.20 and a 1 year high of $104.80. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Sell-side analysts predict that Omnicom Group will post 7.88 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s payout ratio is 37.84%.

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.