Palisade Asset Management LLC lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,322 shares of the business services provider’s stock after purchasing an additional 1,760 shares during the quarter. Palisade Asset Management LLC owned about 0.06% of Omnicom Group worth $9,681,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. purchased a new position in Omnicom Group in the second quarter worth $227,088,000. Unigestion Holding SA purchased a new position in Omnicom Group in the second quarter worth $49,396,000. Longview Partners Guernsey LTD raised its position in Omnicom Group by 8.3% in the third quarter. Longview Partners Guernsey LTD now owns 6,970,601 shares of the business services provider’s stock worth $474,140,000 after acquiring an additional 534,008 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Omnicom Group by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock worth $1,358,007,000 after acquiring an additional 427,284 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its position in Omnicom Group by 15.1% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,138,639 shares of the business services provider’s stock worth $182,123,000 after acquiring an additional 412,929 shares in the last quarter.
Omnicom Group stock traded up $0.93 during trading hours on Friday, hitting $77.10. The stock had a trading volume of 387,601 shares, compared to its average volume of 3,237,429. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.29 and a beta of 1.06. Omnicom Group Inc. has a 1-year low of $65.32 and a 1-year high of $83.34.
Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 16th. The business services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. Omnicom Group’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.
Several research firms have issued reports on OMC. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 19th. Pivotal Research increased their price objective on Omnicom Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Barclays set a $76.00 price objective on Omnicom Group and gave the stock a “sell” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.67.
Omnicom Group Company Profile
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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