Omnicom Group (NYSE:OMC) Given “Outperform” Rating at Macquarie

Macquarie reissued their outperform rating on shares of Omnicom Group (NYSE:OMC) in a report issued on Wednesday morning,Benzinga reports. Macquarie currently has a $120.00 target price on the business services provider’s stock.

Several other analysts have also commented on OMC. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company reduced their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $108.89.

Omnicom Group Stock Performance

NYSE OMC opened at $90.32 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock’s fifty day moving average is $101.58 and its two-hundred day moving average is $97.20. The firm has a market capitalization of $17.62 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Omnicom Group has a fifty-two week low of $83.65 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company posted $1.86 EPS. On average, research analysts anticipate that Omnicom Group will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

Several large investors have recently bought and sold shares of OMC. State Street Corp raised its holdings in Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after acquiring an additional 759,980 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after purchasing an additional 72,447 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after buying an additional 364,665 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.