Equities researchers at Royal Bank Of Canada started coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research note issued on Friday. The brokerage set a “sector perform” rating and a $87.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 4.74% from the company’s current price.
A number of other research firms have also recently issued reports on OMC. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. RBC Capital Markets assumed coverage on Omnicom Group in a report on Thursday. They set a “sector perform” rating for the company. Albert Fried & Company restated a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a report on Thursday, July 14th. BMO Capital Markets restated a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a report on Sunday, July 17th. Finally, Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and an average target price of $82.31.
Omnicom Group (NYSE:OMC) opened at 83.06 on Friday. The firm has a 50-day moving average price of $84.75 and a 200 day moving average price of $83.39. Omnicom Group has a 52-week low of $66.48 and a 52-week high of $87.50. The company has a market capitalization of $19.65 billion, a P/E ratio of 18.17 and a beta of 1.35.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $3.88 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Omnicom Group will post $4.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, September 20th. Omnicom Group’s dividend payout ratio is currently 48.04%.
In other news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the transaction, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its position in 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 during the period. Wilbanks Smith & Thomas Asset Management LLC raised its position in Omnicom Group by 1.0% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,353 shares of the company’s stock worth $362,000 after buying an additional 44 shares during the period. Dowling & Yahnke LLC raised its position in 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 during the period. Nippon Life Insurance Co. raised its position in 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 during the period. Finally, Tredje AP fonden raised its position in Omnicom Group by 0.4% in the fourth quarter. Tredje AP fonden now owns 16,813 shares of the company’s stock worth $1,280,000 after buying an additional 63 shares during the period. 97.04% of the stock is owned by institutional investors.
About Omnicom Group