Omnicom Group (NYSE:OMC) announced its quarterly earnings results on Wednesday. The business services provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.61 by $0.07, RTT News reports. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business earned $1.60 earnings per share. Omnicom Group’s revenue was down 3.6% compared to the same quarter last year.
Shares of OMC stock opened at $81.57 on Thursday. The stock has a fifty day simple moving average of $81.16. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88. The company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 2.82 and a beta of 0.71. Omnicom Group has a 12 month low of $65.85 and a 12 month high of $85.05.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 20th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, September 19th. Omnicom Group’s dividend payout ratio (DPR) is presently 45.22%.
Several research analysts have recently issued reports on OMC shares. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $88.00 to $86.00 in a report on Sunday. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $79.43.
In related news, SVP Andrew Castellaneta sold 4,400 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John Wren sold 60,541 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sontag Advisory LLC bought a new position in Omnicom Group during the 4th quarter worth approximately $28,000. Capital Financial Planning LLC bought a new position in Omnicom Group during the 4th quarter worth approximately $30,000. Marino Stram & Associates LLC bought a new position in Omnicom Group during the 1st quarter worth approximately $30,000. Cornerstone Advisors Inc. grew its position in shares of Omnicom Group by 117.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock worth $33,000 after buying an additional 220 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Omnicom Group during the 1st quarter worth approximately $40,000.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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