JPMorgan Chase & Co. Raises Omnicom Group (NYSE:OMC) Price Target to $118.00

Omnicom Group (NYSE:OMC) had its price objective increased by JPMorgan Chase & Co. from $106.00 to $118.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

A number of other research analysts have also recently commented on OMC. UBS Group upped their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an underperform rating in a research note on Thursday, September 5th. Finally, Macquarie reaffirmed an outperform rating and issued a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has an average rating of Moderate Buy and a consensus price target of $107.30.

Omnicom Group Stock Down 1.0 %

Shares of OMC opened at $101.02 on Tuesday. The company’s 50-day moving average price is $98.28 and its 200 day moving average price is $94.62. Omnicom Group has a 12-month low of $72.20 and a 12-month high of $104.80. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The firm has a market cap of $19.78 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Omnicom Group will post 7.88 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMC. Richardson Financial Services Inc. acquired a new stake in Omnicom Group during the fourth quarter worth approximately $29,000. Davis Capital Management acquired a new stake in Omnicom Group during the 3rd quarter worth $36,000. Innealta Capital LLC acquired a new stake in Omnicom Group during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Omnicom Group in the second quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Omnicom Group in the first quarter valued at $50,000. 91.97% of the stock is owned by institutional investors and hedge funds.

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.