Omnicom Group Sees Unusually Large Options Volume (NYSE:OMC)

Omnicom Group Inc. (NYSE:OMC) was the target of unusually large options trading on Friday. Traders purchased 2,730 put options on the stock. This represents an increase of 304% compared to the typical daily volume of 676 put options.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. 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 report on Monday, June 23rd. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC raised its stake in shares of Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider’s stock valued at $635,000 after purchasing an additional 4,690 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 343 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Omnicom Group by 42.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock valued at $245,909,000 after purchasing an additional 887,415 shares in the last quarter. Fifth Third Bancorp grew its position in Omnicom Group by 13.9% in the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider’s stock valued at $618,000 after acquiring an additional 913 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in Omnicom Group in the first quarter valued at $1,357,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 1.1%

Shares of NYSE OMC opened at $75.19 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group has a 12-month low of $68.37 and a 12-month high of $107.00. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.49 and a beta of 0.97. The firm’s 50-day moving average price is $75.60 and its 200-day moving average price is $75.37.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the company posted $1.95 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 40.17%.

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.