Bank of Montreal Can Has $37.33 Million Stake in Omnicom Group Inc. $OMC

Bank of Montreal Can decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 14.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 518,862 shares of the business services provider’s stock after selling 86,258 shares during the period. Bank of Montreal Can’s holdings in Omnicom Group were worth $37,327,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the 1st quarter valued at $34,000. Ameritas Advisory Services LLC acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Omnicom Group during the 1st quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Omnicom Group during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OMC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut 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. Barclays lifted their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Stock Down 0.2%

Shares of NYSE:OMC opened at $73.39 on Thursday. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The business’s 50-day moving average is $77.39 and its 200-day moving average is $75.16. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 EPS. Equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

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.