Todays Report: The RBC Capital Markets Initiates Coverage on Omnicom Group Inc. (OMC)

The RBC Capital Markets Initiates Coverage on Omnicom Group Inc. (OMC)

Investment analysts at RBC Capital Markets began coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a report issued on Thursday. The firm set a “sector perform” rating and a $87.00 price target on the stock. RBC Capital Markets’ price target suggests a potential upside of 5.79% from the stock’s current price.

Several other research analysts have also recently issued reports on OMC. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Albert Fried & Company reaffirmed a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, Telsey Advisory Group upped their price target on Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, July 20th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and a consensus price target of $82.64.

Omnicom Group (NYSE:OMC) opened at 82.24 on Thursday. The company has a 50-day moving average price of $84.69 and a 200-day moving average price of $83.39. Omnicom Group has a one year low of $66.48 and a one year high of $87.50. The firm has a market cap of $19.45 billion, a PE ratio of 17.99 and a beta of 1.35.

Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 14th. The company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Omnicom Group will post $4.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s dividend payout ratio is currently 48.04%.

In related news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

A number of large investors have recently modified their holdings of OMC. Checchi Capital Advisers LLC boosted its stake in shares of Omnicom Group by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 3,230 shares of the company’s stock worth $263,000 after buying an additional 31 shares in the last quarter. Dowling & Yahnke LLC boosted its stake in shares of Omnicom Group by 1.3% in the second quarter. Dowling & Yahnke LLC now owns 4,243 shares of the company’s stock worth $346,000 after buying an additional 53 shares in the last quarter. Nippon Life Insurance Co. boosted its stake in shares of Omnicom Group by 0.3% in the second quarter. Nippon Life Insurance Co. now owns 20,905 shares of the company’s stock worth $1,704,000 after buying an additional 54 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Omnicom Group by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,086 shares of the company’s stock worth $446,000 after buying an additional 66 shares in the last quarter. Finally, Trust Department MB Financial Bank N A boosted its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Omnicom Group Company Profile

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