Omnicom Group Inc. (NYSE:OMC) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for shares of Omnicom Group in a note issued to investors on Thursday. Jefferies Group analyst J. Janedis now forecasts that the business services provider will earn $5.10 per share for the year, up from their previous forecast of $5.08. Jefferies Group currently has a “Hold” rating and a $82.00 target price on the stock. Jefferies Group also issued estimates for Omnicom Group’s Q4 2018 earnings at $1.70 EPS.
Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. Omnicom Group had a return on equity of 42.34% and a net margin of 7.54%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. TRADEMARK VIOLATION NOTICE: This news story was reported by Stock Observer and is the property of of Stock Observer. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.thestockobserver.com/2017/07/16/fy2017-earnings-forecast-for-omnicom-group-inc-issued-by-jefferies-group-nyseomc.html.
Several other brokerages have also recently commented on OMC. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Friday. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, May 20th. Evercore ISI initiated coverage on Omnicom Group in a research report on Monday, April 17th. They set an “in-line” rating and a $91.00 price target for the company. They noted that the move was a valuation call. Credit Suisse Group reiterated a “neutral” rating and set a $79.00 price target (down from $81.00) on shares of Omnicom Group in a research report on Friday. Finally, BidaskClub cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $85.54.
Omnicom Group (NYSE:OMC) opened at 81.28 on Friday. The company has a market capitalization of $18.92 billion, a P/E ratio of 16.57 and a beta of 1.27. Omnicom Group has a 52-week low of $78.67 and a 52-week high of $89.66. The stock’s 50 day moving average price is $82.87 and its 200-day moving average price is $84.58.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s payout ratio is currently 44.81%.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares in the company, valued at approximately $8,936,777.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leonard S. Coleman, Jr. sold 2,038 shares of the company’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $83.93, for a total value of $171,049.34. Following the completion of the sale, the director now owns 24,853 shares of the company’s stock, valued at $2,085,912.29. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Cribstone Capital Management LLC acquired a new stake in Omnicom Group during the first quarter worth about $164,000. Invictus RG increased its stake in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares in the last quarter. FNY Partners Fund LP increased its stake in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC increased its stake in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock worth $194,000 after buying an additional 510 shares in the last quarter. Finally, Huntington Steele LLC acquired a new stake in Omnicom Group during the first quarter worth about $202,000. Institutional investors own 97.47% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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