Omnicom Group (NYSE:OMC) Given New $114.00 Price Target at UBS Group

Omnicom Group (NYSE:OMC) had its target price upped by UBS Group from $108.00 to $114.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other equities analysts have also commented on OMC. Bank of America reissued an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Citigroup upped their price objective on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Barclays increased their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Morgan Stanley began coverage on Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.86.

Omnicom Group Stock Down 1.1%

Shares of Omnicom Group stock opened at $75.00 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a market capitalization of $23.28 billion, a P/E ratio of 153.07, a P/E/G ratio of 0.63 and a beta of 0.71. The company has a 50 day moving average of $77.57 and a 200 day moving average of $77.07.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the company posted $2.41 earnings per share. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, research analysts forecast that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group declared that its board has initiated a share buyback plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. Omnicom Group’s payout ratio is presently 653.06%.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Activest Wealth Management raised its position in Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group in the fourth quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of Omnicom Group in the fourth quarter valued at about $26,000. Capital A Wealth Management LLC increased its stake in shares of Omnicom Group by 548.3% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after acquiring an additional 318 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.