Omnicom Group (OMC) Trading Up 2.8% After Earnings Beat

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Omnicom Group Inc. (NYSE:OMC)’s share price was up 2.8% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $82.32 and last traded at $83.51. Approximately 2,075,531 shares were traded during trading, an increase of 31% from the average daily volume of 1,585,986 shares. The stock had previously closed at $81.25.

The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. Omnicom Group had a net margin of 8.67% and a return on equity of 43.14%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Monday, March 11th were issued a $0.65 dividend. The ex-dividend date was Friday, March 8th. This is an increase from Omnicom Group’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.11%. Omnicom Group’s dividend payout ratio (DPR) is 45.22%.

A number of analysts have recently issued reports on OMC shares. BMO Capital Markets lowered their price objective on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Macquarie set a $76.00 price objective on shares of Omnicom Group and gave the company a “hold” rating in a report on Thursday, February 14th. Citigroup boosted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $76.00 to $84.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and an average target price of $76.90.

In other Omnicom Group news, Director Linda Johnson Rice sold 495 shares of Omnicom Group stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $74.79, for a total transaction of $37,021.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of Omnicom Group stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in Omnicom Group by 209.0% during the third quarter. Morgan Stanley now owns 1,403,684 shares of the business services provider’s stock worth $95,480,000 after purchasing an additional 949,421 shares during the period. Alps Advisors Inc. bought a new stake in shares of Omnicom Group in the fourth quarter valued at about $37,806,000. Capital Investment Advisors LLC boosted its position in shares of Omnicom Group by 11.3% in the fourth quarter. Capital Investment Advisors LLC now owns 71,970 shares of the business services provider’s stock valued at $5,271,000 after acquiring an additional 7,331 shares during the period. Acadian Asset Management LLC boosted its position in shares of Omnicom Group by 561.7% in the fourth quarter. Acadian Asset Management LLC now owns 26,594 shares of the business services provider’s stock valued at $1,948,000 after acquiring an additional 22,575 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Omnicom Group by 250.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 126,731 shares of the business services provider’s stock valued at $8,119,000 after acquiring an additional 90,519 shares during the period.

The stock has a market cap of $16.93 billion, a PE ratio of 14.52, a PEG ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.82 and a current ratio of 0.90.

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Omnicom Group Company Profile (NYSE:OMC)

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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