Omnicom Group (OMC) Price Target Lowered to $72.00 at Pivotal Research

Omnicom Group (NYSE:OMC) had its target price cut by Pivotal Research from $75.00 to $72.00 in a research note released on Tuesday morning, Marketbeat.com reports. They currently have a hold rating on the business services provider’s stock.

A number of other research firms also recently issued reports on OMC. Zacks Investment Research downgraded shares of Omnicom Group from a buy rating to a hold rating in a research report on Monday, March 26th. Wells Fargo reiterated a hold rating and set a $80.00 target price on shares of Omnicom Group in a research report on Friday, February 16th. BMO Capital Markets upgraded shares of Omnicom Group from a market perform rating to an outperform rating and boosted their target price for the company from $80.00 to $90.00 in a research report on Friday, February 16th. They noted that the move was a valuation call. Royal Bank of Canada downgraded shares of Omnicom Group from an outperform rating to a sector perform rating and set a $83.00 target price on the stock. in a research report on Friday, February 16th. Finally, Morgan Stanley boosted their target price on shares of Omnicom Group from $72.00 to $76.00 and gave the company an underweight rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $82.46.

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Shares of NYSE OMC traded down $0.16 during midday trading on Tuesday, reaching $72.34. The stock had a trading volume of 271,908 shares, compared to its average volume of 2,610,293. The company has a market capitalization of $16,581.57, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. Omnicom Group has a twelve month low of $65.32 and a twelve month high of $86.71. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.86 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.01. Omnicom Group had a net margin of 7.12% and a return on equity of 40.67%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts forecast that Omnicom Group will post 5.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.40 annualized dividend and a yield of 3.32%. Omnicom Group’s payout ratio is 47.06%.

In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 2,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $77.38, for a total transaction of $154,760.00. Following the transaction, the treasurer now owns 42,561 shares in the company, valued at $3,293,370.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group grew its stake in shares of Omnicom Group by 126.3% in the 4th quarter. Schroder Investment Management Group now owns 2,498,819 shares of the business services provider’s stock worth $181,989,000 after acquiring an additional 1,394,586 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 28.3% in the 4th quarter. Bank of New York Mellon Corp now owns 6,194,041 shares of the business services provider’s stock worth $451,110,000 after acquiring an additional 1,366,325 shares in the last quarter. Kiltearn Partners LLP bought a new stake in shares of Omnicom Group in the 4th quarter worth $97,767,000. Pzena Investment Management LLC grew its stake in shares of Omnicom Group by 20.7% in the 4th quarter. Pzena Investment Management LLC now owns 7,653,555 shares of the business services provider’s stock worth $557,408,000 after acquiring an additional 1,310,260 shares in the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in shares of Omnicom Group in the 4th quarter worth $51,393,000. Hedge funds and other institutional investors own 98.62% of the company’s stock.

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About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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