JPMorgan Chase & Co. Boosts Omnicom Group (NYSE:OMC) Price Target to $108.00

Omnicom Group (NYSE:OMC) had its price objective hoisted by JPMorgan Chase & Co. from $104.00 to $108.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts also recently weighed in on OMC. Wells Fargo & Company upgraded shares of Omnicom Group from an equal weight rating to an overweight rating and lifted their price objective for the company from $91.00 to $106.00 in a research report on Wednesday. StockNews.com upgraded shares of Omnicom Group from a hold rating to a buy rating in a research report on Thursday, April 4th. BNP Paribas upgraded shares of Omnicom Group from a neutral rating to an outperform rating and set a $115.00 price objective on the stock in a research report on Thursday, March 28th. Macquarie lifted their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an outperform rating in a research report on Tuesday, April 2nd. Finally, UBS Group initiated coverage on shares of Omnicom Group in a research report on Thursday, January 11th. They issued a buy rating and a $117.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Omnicom Group presently has an average rating of Moderate Buy and an average price target of $103.40.

Omnicom Group Trading Up 1.2 %

NYSE OMC opened at $92.62 on Wednesday. Omnicom Group has a one year low of $72.20 and a one year high of $99.23. The company has a 50-day simple moving average of $91.51 and a 200-day simple moving average of $85.32. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.86 and a current ratio of 0.95. The firm has a market capitalization of $18.26 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.83%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 EPS. On average, equities analysts forecast that Omnicom Group will post 7.73 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Insiders Place Their Bets

In related news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the sale, the director now directly owns 9,753 shares in the company, valued at approximately $845,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Trading of Omnicom Group

A number of hedge funds and other institutional investors have recently made changes to their positions in OMC. OFI Invest Asset Management bought a new stake in shares of Omnicom Group in the 3rd quarter worth approximately $25,000. HHM Wealth Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth approximately $26,000. Pinnacle Bancorp Inc. increased its position in shares of Omnicom Group by 61.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Omnicom Group in the fourth quarter worth approximately $29,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Company Profile

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.