Omnicom Group Inc. (OMC) Given New $78.00 Price Target at Credit Suisse Group

Omnicom Group Inc. (NYSE:OMC) had its price target decreased by Credit Suisse Group from $79.00 to $78.00 in a research report released on Wednesday morning. Credit Suisse Group currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently commented on the company. Jefferies Group LLC reiterated a hold rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Zacks Investment Research upgraded Omnicom Group from a hold rating to a buy rating and set a $91.00 price objective on the stock in a research note on Friday, July 14th. BMO Capital Markets reiterated a hold rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. Citigroup Inc. upgraded Omnicom Group from a sell rating to a neutral rating in a research note on Wednesday, September 6th. Finally, Wells Fargo & Company reiterated a hold rating and issued a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group has an average rating of Hold and a consensus target price of $85.85.

Omnicom Group (NYSE:OMC) traded up 0.27% during mid-day trading on Wednesday, hitting $74.55. The stock had a trading volume of 1,462,612 shares. Omnicom Group has a 1-year low of $71.63 and a 1-year high of $89.66. The firm’s 50-day moving average price is $73.80 and its 200-day moving average price is $80.12. The stock has a market cap of $17.20 billion, a PE ratio of 15.05 and a beta of 1.28.

Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group will post $5.09 earnings per share for the current year.

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In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the sale, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after purchasing an additional 16,507,161 shares during the period. Vanguard Group Inc. increased its holdings in shares of Omnicom Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 15,946,330 shares of the business services provider’s stock worth $1,321,951,000 after purchasing an additional 79,678 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Omnicom Group by 2.6% in the second quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock worth $1,113,320,000 after purchasing an additional 341,406 shares during the period. State Street Corp increased its holdings in shares of Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock worth $850,497,000 after purchasing an additional 121,470 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in shares of Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock worth $495,658,000 after purchasing an additional 1,049,746 shares during the period. 98.60% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.

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