Omnicom Group (NYSE:OMC) announced its quarterly earnings results on Tuesday. The business services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06, Bloomberg Earnings reports. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Omnicom Group had a return on equity of 39.97% and a net margin of 7.25%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS.
OMC opened at $78.10 on Tuesday. Omnicom Group has a 12 month low of $65.32 and a 12 month high of $83.34. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 0.91. The company has a market capitalization of $17.62 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.44 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 12th. Investors of record on Thursday, June 14th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, June 13th. Omnicom Group’s dividend payout ratio is currently 47.06%.
In related news, Director Linda Johnson Rice sold 499 shares of the firm’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $75.31, for a total value of $37,579.69. Following the sale, the director now directly owns 7,900 shares in the company, valued at approximately $594,949. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its position in Omnicom Group by 239.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,672 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 1,180 shares during the period. Credit Agricole S A acquired a new stake in Omnicom Group in the 1st quarter valued at approximately $151,000. Vigilant Capital Management LLC increased its position in Omnicom Group by 3,495.5% in the 2nd quarter. Vigilant Capital Management LLC now owns 2,409 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 2,342 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Omnicom Group in the 1st quarter valued at approximately $216,000. Finally, Signaturefd LLC acquired a new stake in Omnicom Group in the 1st quarter valued at approximately $226,000.
A number of brokerages have recently weighed in on OMC. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. ValuEngine cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 23rd. Morgan Stanley dropped their price target on Omnicom Group from $76.00 to $73.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 23rd. Moffett Nathanson began coverage on Omnicom Group in a research report on Tuesday, June 19th. They set a “sell” rating and a $63.00 price target on the stock. Finally, Barclays set a $84.00 price target on Omnicom Group and gave the stock a “hold” rating in a research report on Wednesday, April 18th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $79.58.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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