Omnicom Group (NYSE:OMC) Downgraded to “Equal Weight” Rating by Barclays

Barclays cut shares of Omnicom Group (NYSE:OMC) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $80.00 price target on the business services provider’s stock, down from their prior price target of $105.00.

Several other brokerages have also commented on OMC. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Citigroup reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. UBS Group dropped their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Omnicom Group Stock Down 2.4%

OMC stock opened at $70.71 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $73.62 and a 200-day simple moving average of $79.88. The company has a market capitalization of $13.80 billion, a P/E ratio of 9.67, a PEG ratio of 1.60 and a beta of 0.93. Omnicom Group has a twelve month low of $68.37 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. On average, equities research analysts predict that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio is currently 38.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMC. Robinson Value Management Ltd. grew its holdings in shares of Omnicom Group by 0.4% during the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock valued at $2,837,000 after acquiring an additional 139 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after buying an additional 143 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Omnicom Group by 13.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock valued at $105,000 after buying an additional 147 shares during the last quarter. MGO One Seven LLC grew its stake in shares of Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock valued at $437,000 after buying an additional 157 shares in the last quarter. Finally, Mezzasalma Advisors LLC increased its holdings in Omnicom Group by 3.1% in the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock worth $443,000 after buying an additional 159 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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 branding, experiential, execution and support, public relations, and healthcare.