Investment analysts at Rothschild & Co Redburn assumed coverage on shares of Omnicom Group (NYSE:OMC – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “neutral” rating and a $89.00 price target on the business services provider’s stock. Rothschild & Co Redburn’s target price points to a potential upside of 20.46% from the stock’s previous close.
Several other research analysts have also commented on the stock. UBS Group increased their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Citigroup lowered their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Finally, Morgan Stanley upped their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.13.
Get Our Latest Stock Report on Omnicom Group
Omnicom Group Stock Down 1.3%
Omnicom Group (NYSE:OMC – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. Equities research analysts predict that Omnicom Group will post 10.97 EPS for the current fiscal year.
Omnicom Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of OMC. Activest Wealth Management raised its stake in Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Omnicom Group during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC increased its holdings in shares of Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares during the period. Finally, Legacy Wealth Managment LLC ID raised its position in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.
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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