UBS Group Increases Omnicom Group (NYSE:OMC) Price Target to $120.00

Omnicom Group (NYSE:OMC) had its target price increased by UBS Group from $117.00 to $120.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

A number of other equities analysts also recently commented on the stock. BNP Paribas upgraded shares of Omnicom Group from a neutral rating to an outperform rating and set a $115.00 price objective for the company in a research report on Thursday, March 28th. Moffett Nathanson upped their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. Macquarie restated an outperform rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an overweight rating in a research report on Wednesday, April 17th. Finally, Barclays upgraded shares of Omnicom Group from an equal weight rating to an overweight rating and upped their price objective for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $104.70.

Omnicom Group Stock Down 1.2 %

Shares of NYSE:OMC opened at $91.00 on Thursday. The stock has a market cap of $17.80 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.14 and a beta of 0.95. The firm has a fifty day moving average price of $91.78 and a 200 day moving average price of $91.37. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group has a 1-year low of $72.20 and a 1-year high of $98.06.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. Sell-side analysts predict that Omnicom Group will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Activity

In other news, Director Linda Johnson Rice sold 453 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the completion of the transaction, the director now owns 9,830 shares in the company, valued at approximately $911,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds have recently added to or reduced their stakes in OMC. Jacobs Levy Equity Management Inc. increased its holdings in Omnicom Group by 319.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after acquiring an additional 1,104,566 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Omnicom Group during the 4th quarter valued at about $93,634,000. Morningstar Investment Services LLC increased its holdings in Omnicom Group by 98.7% during the 4th quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after acquiring an additional 595,746 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Omnicom Group by 88.9% during the 4th quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after acquiring an additional 546,577 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in Omnicom Group during the 4th quarter valued at about $43,502,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.