Omnicom Group (NYSE:OMC) Given New $104.00 Price Target at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC) had its price objective cut by JPMorgan Chase & Co. from $116.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Citigroup reiterated a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday. Barclays reduced their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. UBS Group lowered their target price on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company lowered their price objective on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.29.

Omnicom Group Trading Up 2.7 %

Shares of OMC opened at $73.16 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.94 and a beta of 0.87. The stock has a fifty day moving average price of $79.57 and a two-hundred day moving average price of $89.47. Omnicom Group has a 52-week low of $69.13 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Analysts predict that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.83%. Omnicom Group’s dividend payout ratio is presently 37.58%.

Hedge Funds Weigh In On Omnicom Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. acquired a new stake in shares of Omnicom Group in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 271 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Omnicom Group by 146.6% in the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 195 shares during the period. Johnson Financial Group Inc. boosted its position in shares of Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider’s stock valued at $40,000 after buying an additional 404 shares during the period. Institutional investors own 91.97% of the company’s stock.

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.