Omnicom Group (NYSE:OMC) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Omnicom Group (NYSE:OMC) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks reports.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Citigroup dropped their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Argus upgraded Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Finally, Wells Fargo & Company increased their price target on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

NYSE OMC opened at $74.05 on Monday. The stock has a market cap of $20.32 billion, a PE ratio of 63.84, a P/E/G ratio of 0.63 and a beta of 0.65. Omnicom Group has a twelve month low of $66.33 and a twelve month high of $89.57. The stock has a fifty day simple moving average of $82.19 and a 200-day simple moving average of $78.30. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group’s revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Equities analysts anticipate that Omnicom Group will post 10.5 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pure Financial Advisors LLC grew its stake in shares of Omnicom Group by 3.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 135 shares during the last quarter. Tranquilli Financial Advisor LLC increased its holdings in shares of Omnicom Group by 2.0% in the second quarter. Tranquilli Financial Advisor LLC now owns 7,610 shares of the business services provider’s stock valued at $554,000 after purchasing an additional 148 shares during the period. Caldwell Trust Co raised its stake in shares of Omnicom Group by 29.0% during the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock worth $50,000 after purchasing an additional 149 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Omnicom Group by 3.8% during the first quarter. Brown Lisle Cummings Inc. now owns 4,776 shares of the business services provider’s stock worth $360,000 after purchasing an additional 176 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.