Royal Bank of Canada cut shares of Omnicom Group (NYSE:OMC) from an outperform rating to a sector perform rating in a report issued on Friday, MarketBeat.com reports. Royal Bank of Canada currently has $83.00 price target on the business services provider’s stock.
Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Omnicom Group from a b- rating to a c+ rating in a research report on Tuesday, November 21st. Zacks Investment Research upgraded shares of Omnicom Group from a sell rating to a hold rating in a research report on Wednesday, January 24th. Pivotal Research cut their target price on shares of Omnicom Group from $76.00 to $75.00 and set a hold rating on the stock in a research report on Thursday, February 15th. Barclays reiterated a hold rating and set a $81.00 target price on shares of Omnicom Group in a research report on Thursday, January 25th. Finally, Wells Fargo & Co reiterated a market perform rating and set a $75.00 target price (down from $81.00) on shares of Omnicom Group in a research report on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $83.07.
Shares of Omnicom Group (OMC) opened at $78.72 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.86 and a debt-to-equity ratio of 1.56. Omnicom Group has a 1 year low of $65.32 and a 1 year high of $86.71. The company has a market cap of $18,150.00, a P/E ratio of 15.41, a P/E/G ratio of 2.56 and a beta of 1.20.
Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Omnicom Group had a net margin of 7.12% and a return on equity of 40.67%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $1.47 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. analysts predict that Omnicom Group will post 5.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Friday, March 9th will be given a $0.60 dividend. The ex-dividend date is Thursday, March 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.05%. Omnicom Group’s dividend payout ratio (DPR) is currently 46.97%.
In other news, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $74.31, for a total value of $617,516.10. Following the transaction, the insider now owns 21,271 shares in the company, valued at approximately $1,580,648.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sawtooth Solutions LLC lifted its position in shares of Omnicom Group by 14.1% in the 4th quarter. Sawtooth Solutions LLC now owns 7,149 shares of the business services provider’s stock worth $521,000 after purchasing an additional 881 shares during the period. Altman Advisors Inc. acquired a new position in shares of Omnicom Group in the 4th quarter worth approximately $327,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Omnicom Group by 25.6% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 658,300 shares of the business services provider’s stock worth $47,944,000 after purchasing an additional 134,100 shares during the period. BB&T Investment Services Inc. increased its stake in shares of Omnicom Group by 5.8% in the 4th quarter. BB&T Investment Services Inc. now owns 22,209 shares of the business services provider’s stock valued at $1,631,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Omnicom Group in the 4th quarter valued at $229,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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Omnicom Group Company Profile
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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