Barclays Cuts Omnicom Group (NYSE:OMC) Price Target to $105.00

Omnicom Group (NYSE:OMC) had its target price cut by Barclays from $110.00 to $105.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities analysts have also recently weighed in on OMC. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. UBS Group cut their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Citigroup reiterated a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.29.

Omnicom Group Trading Up 2.7 %

Omnicom Group stock opened at $73.16 on Thursday. Omnicom Group has a one year low of $69.13 and a one year high of $107.00. The business’s fifty day moving average is $79.57 and its 200 day moving average is $89.39. The stock has a market capitalization of $14.38 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. On average, sell-side analysts predict that Omnicom Group will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.83%. Omnicom Group’s payout ratio is 38.30%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wolf Group Capital Advisors purchased a new position in shares of Omnicom Group in the first quarter valued at about $1,513,000. Mezzasalma Advisors LLC lifted its holdings in Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock worth $443,000 after purchasing an additional 159 shares in the last quarter. Berkshire Bank boosted its stake in Omnicom Group by 24.9% in the 1st quarter. Berkshire Bank now owns 3,233 shares of the business services provider’s stock worth $268,000 after purchasing an additional 645 shares during the period. Inscription Capital LLC purchased a new stake in Omnicom Group during the 1st quarter valued at approximately $185,000. Finally, Grove Bank & Trust raised its position in shares of Omnicom Group by 1,136.4% during the first quarter. Grove Bank & Trust now owns 1,088 shares of the business services provider’s stock valued at $90,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

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.