Omnicom Group Inc. (NYSE:OMC) Stock Rating Lowered by Morgan Stanley

Omnicom Group Inc. (NYSE:OMC) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Monday, October 16th, Marketbeat.com reports. They currently have a $72.00 price objective on the business services provider’s stock. Morgan Stanley’s price target points to a potential upside of 2.33% from the company’s current price.

Several other research firms also recently weighed in on OMC. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Friday, July 14th. BidaskClub downgraded Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, July 22nd. BMO Capital Markets restated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Shares of Omnicom Group (NYSE OMC) opened at 70.36 on Monday. Omnicom Group has a 12 month low of $69.42 and a 12 month high of $89.66. The company’s 50 day moving average price is $74.02 and its 200 day moving average price is $79.25. The company has a market capitalization of $16.24 billion, a P/E ratio of 14.00 and a beta of 1.28.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the company posted $1.06 EPS. Omnicom Group’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts expect that Omnicom Group will post $5.11 EPS for the current fiscal year.

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In other news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the completion of the transaction, the director now owns 7,777 shares in the company, valued at $577,986.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Omnicom Group by 3,091.8% during the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the period. Janus Henderson Group PLC boosted its position in shares of Omnicom Group by 15,279.3% during the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after buying an additional 4,963,787 shares during the period. Beutel Goodman & Co Ltd. purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $153,358,000. Nordea Investment Management AB boosted its position in shares of Omnicom Group by 501.5% during the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock valued at $182,531,000 after buying an additional 1,835,749 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Omnicom Group by 90.0% during the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after buying an additional 1,256,005 shares during the period. Hedge funds and other institutional investors own 98.93% 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.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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