Omnicom Group (NYSE:OMC) Stock Rating Lowered by BMO Capital Markets

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Omnicom Group (NYSE:OMC) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Sunday, Marketbeat Ratings reports. They currently have a $86.00 price target on the business services provider’s stock, down from their previous price target of $88.00. BMO Capital Markets’ price objective would suggest a potential upside of 2.39% from the company’s current price.

Separately, Barclays set a $24.00 price objective on Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Omnicom Group has a consensus rating of “Hold” and a consensus price target of $78.88.

OMC stock opened at $83.99 on Friday. Omnicom Group has a twelve month low of $65.85 and a twelve month high of $84.89. The firm has a market capitalization of $18.65 billion, a P/E ratio of 14.61, a PEG ratio of 2.85 and a beta of 0.71. The business’s 50-day moving average price is $80.99. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a return on equity of 44.01% and a net margin of 8.76%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.14 earnings per share. Research analysts predict that Omnicom Group will post 5.94 EPS for the current fiscal year.

In other news, SVP Andrew Castellaneta sold 4,400 shares of Omnicom Group stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John Wren sold 60,541 shares of Omnicom Group stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $79.84, for a total transaction of $4,833,593.44. The disclosure for this sale can be found here. Insiders have sold 70,354 shares of company stock worth $5,642,219 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Several large investors have recently bought and sold shares of OMC. Crossmark Global Holdings Inc. raised its position in Omnicom Group by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 30,462 shares of the business services provider’s stock worth $2,496,000 after purchasing an additional 131 shares during the last quarter. 6 Meridian raised its position in Omnicom Group by 2.1% in the 2nd quarter. 6 Meridian now owns 6,530 shares of the business services provider’s stock worth $535,000 after purchasing an additional 137 shares during the last quarter. Global Retirement Partners LLC raised its position in Omnicom Group by 5.2% in the 1st quarter. Global Retirement Partners LLC now owns 2,825 shares of the business services provider’s stock worth $206,000 after purchasing an additional 139 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in Omnicom Group by 0.4% in the 4th quarter. Segall Bryant & Hamill LLC now owns 40,068 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 141 shares during the last quarter. Finally, Securian Asset Management Inc raised its position in Omnicom Group by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 22,741 shares of the business services provider’s stock worth $1,660,000 after purchasing an additional 145 shares during the last quarter.

About Omnicom Group

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

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