FY2023 EPS Estimates for Omnicom Group Inc. (NYSE:OMC) Lifted by Zacks Research

Omnicom Group Inc. (NYSE:OMC) – Equities researchers at Zacks Research lifted their FY2023 earnings estimates for Omnicom Group in a research note issued to investors on Friday, September 1st. Zacks Research analyst S. Goswami now anticipates that the business services provider will earn $7.20 per share for the year, up from their previous forecast of $7.17. The consensus estimate for Omnicom Group’s current full-year earnings is $7.35 per share. Zacks Research also issued estimates for Omnicom Group’s Q4 2023 earnings at $1.97 EPS, Q3 2024 earnings at $1.88 EPS, Q4 2024 earnings at $2.10 EPS, FY2024 earnings at $7.45 EPS, Q1 2025 earnings at $1.80 EPS and FY2025 earnings at $7.93 EPS.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 18th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.67 billion. Omnicom Group had a return on equity of 41.29% and a net margin of 9.66%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS.

Other research analysts also recently issued reports about the stock. Bank of America upped their target price on shares of Omnicom Group from $79.00 to $84.00 and gave the company an “underperform” rating in a research report on Wednesday, July 19th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $109.00 to $88.00 in a report on Monday, July 24th. StockNews.com started coverage on shares of Omnicom Group in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $100.00 target price on shares of Omnicom Group in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and an average price target of $96.57.

Omnicom Group Price Performance

Omnicom Group stock opened at $80.21 on Monday. The business’s 50-day simple moving average is $86.17 and its 200 day simple moving average is $89.77. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 1.53. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.25 and a beta of 0.85. Omnicom Group has a 12-month low of $61.85 and a 12-month high of $99.23.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Thursday, September 21st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Wednesday, September 20th. Omnicom Group’s dividend payout ratio is currently 41.24%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 467 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.24, for a total value of $37,472.08. Following the completion of the transaction, the director now directly owns 9,591 shares of the company’s stock, valued at $769,581.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Rochelle M. Tarlowe sold 1,800 shares of Omnicom Group stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $94.12, for a total value of $169,416.00. Following the sale, the vice president now owns 13,496 shares of the company’s stock, valued at $1,270,243.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 467 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.24, for a total value of $37,472.08. Following the sale, the director now owns 9,591 shares in the company, valued at approximately $769,581.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,267 shares of company stock valued at $2,574,638. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC raised its position in shares of Omnicom Group by 0.8% in the fourth quarter. Pathstone Family Office LLC now owns 13,144 shares of the business services provider’s stock valued at $1,084,000 after purchasing an additional 108 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in Omnicom Group by 3.5% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,256 shares of the business services provider’s stock valued at $307,000 after acquiring an additional 110 shares during the period. Bangor Savings Bank raised its holdings in Omnicom Group by 36.1% in the 2nd quarter. Bangor Savings Bank now owns 415 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 110 shares during the period. Avitas Wealth Management LLC lifted its position in Omnicom Group by 1.0% during the second quarter. Avitas Wealth Management LLC now owns 11,327 shares of the business services provider’s stock worth $1,078,000 after acquiring an additional 111 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Omnicom Group by 5.7% during the first quarter. Lindbrook Capital LLC now owns 2,111 shares of the business services provider’s stock worth $199,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

About Omnicom Group

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 brand consulting, experiential, execution and support, public relations, and healthcare.