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.
TRADEMARK VIOLATION WARNING: “Omnicom Group Inc. (NYSE:OMC) Stock Rating Lowered by Morgan Stanley” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/27/omnicom-group-inc-omc-rating-lowered-to-underweight-at-morgan-stanley.html.
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.
Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.