Omnicom Group (NYSE:OMC) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Omnicom Group (NYSE:OMC) released its quarterly earnings data on Thursday. The business services provider reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.06, FiscalAI reports. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.

Omnicom Group Stock Performance

Omnicom Group stock traded up $2.15 during mid-day trading on Thursday, reaching $82.65. 4,047,364 shares of the company were exchanged, compared to its average volume of 4,028,142. The firm’s 50-day simple moving average is $80.64 and its two-hundred day simple moving average is $78.44. Omnicom Group has a twelve month low of $66.33 and a twelve month high of $89.57. The firm has a market cap of $22.68 billion, a PE ratio of 71.25, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OMC. Barclays reduced their price objective on shares of Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Zacks Research raised Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Argus raised Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Finally, Citigroup dropped their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.75.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.