Omnicom Group (NYSE:OMC – Get Free Report) had its price objective boosted by equities research analysts at Wells Fargo & Company from $91.00 to $93.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 20.55% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Citigroup reduced their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Finally, Morgan Stanley boosted their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $99.62.
Get Our Latest Research Report on OMC
Omnicom Group Stock Down 6.6%
Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 25.38% and a net margin of 1.74%.Omnicom Group’s revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. As a group, equities analysts expect that Omnicom Group will post 10.97 earnings per share for the current year.
Hedge Funds Weigh In On Omnicom Group
Large investors have recently bought and sold shares of the business. Wakefield Asset Management LLLP grew its holdings in shares of Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co lifted its holdings in shares of Omnicom Group by 29.0% in the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock worth $50,000 after purchasing an additional 149 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Omnicom Group by 39.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Hartford Financial Management Inc. boosted its position in Omnicom Group by 27.0% during the 4th quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 162 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC grew its stake in Omnicom Group by 3.5% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock worth $395,000 after buying an additional 167 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.
The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.
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