Omnicom Group (NYSE:OMC) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of Omnicom Group (NYSE:OMC) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have $91.00 price objective on the business services provider’s stock, up from their previous price objective of $78.00.

Other research analysts have also issued reports about the company. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. JPMorgan Chase & Co. dropped their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.29.

Omnicom Group Trading Up 2.3%

NYSE OMC opened at $76.27 on Tuesday. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group has a one year low of $68.37 and a one year high of $107.00. The company’s 50 day moving average price is $75.74 and its 200 day moving average price is $75.26.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Omnicom Group will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Omnicom Group by 1.5% during the second quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock worth $1,712,993,000 after acquiring an additional 344,652 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Omnicom Group by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after purchasing an additional 691,560 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after purchasing an additional 3,362,411 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Omnicom Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,339,385 shares of the business services provider’s stock worth $382,717,000 after purchasing an additional 48,868 shares during the last quarter. Finally, Boston Partners boosted its position in Omnicom Group by 18.5% during the 1st quarter. Boston Partners now owns 4,882,041 shares of the business services provider’s stock valued at $402,598,000 after purchasing an additional 762,871 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

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.