Omnicom Group (NYSE:OMC) Raised to “Strong-Buy” at The Goldman Sachs Group

Omnicom Group (NYSE:OMC) was upgraded by The Goldman Sachs Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Barclays boosted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Morgan Stanley boosted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, UBS Group boosted their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Price Performance

Omnicom Group stock opened at $75.62 on Wednesday. The firm has a 50-day moving average of $75.46 and a two-hundred day moving average of $76.57. Omnicom Group has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of 193.90, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The company’s revenue was up 69.2% compared to the same quarter last year. On average, research analysts forecast that Omnicom Group will post 10.97 earnings per share for the current year.

Omnicom Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 38.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Activest Wealth Management boosted its holdings in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group in the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in shares of Omnicom Group in the 4th quarter valued at $26,000. Cornerstone Planning Group LLC boosted its holdings in shares of Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.