Omnicom Group (NYSE:OMC) Reaches New 12-Month Low – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $84.21 and last traded at $84.25, with a volume of 1342664 shares changing hands. The stock had previously closed at $85.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OMC shares. Wells Fargo & Company decreased their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. UBS Group boosted their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.00.

Omnicom Group Price Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a market capitalization of $16.41 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.07 and a beta of 0.98. The company has a 50 day moving average of $95.91 and a 200 day moving average of $96.76.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the business posted $1.86 EPS. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 38.25%.

Insider Buying and Selling

In other news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after acquiring an additional 271 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Omnicom Group in the 3rd quarter worth about $33,000. Davis Capital Management acquired a new stake in Omnicom Group during the 3rd quarter worth about $36,000. HM Payson & Co. lifted its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares during the period. Institutional investors own 91.97% of the company’s stock.

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.