Evercore ISI Initiates Coverage on Omnicom Group (NYSE:OMC)

Evercore ISI assumed coverage on shares of Omnicom Group (NYSE:OMC) in a research note published on Tuesday, The Fly reports. The firm issued an underperform rating on the business services provider’s stock.

A number of other brokerages have also issued reports on OMC. Standpoint Research assumed coverage on Omnicom Group in a research note on Tuesday. They issued a buy rating on the stock. Wolfe Research assumed coverage on Omnicom Group in a research note on Thursday, July 23rd. They issued a market perform rating and a $60.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $69.63.

Omnicom Group stock opened at $52.32 on Tuesday. The stock has a market cap of $11.39 billion, a PE ratio of 12.20, a P/E/G ratio of 1.65 and a beta of 0.66. The stock has a 50-day moving average price of $54.19 and a 200 day moving average price of $55.85. Omnicom Group has a 52 week low of $46.37 and a 52 week high of $82.73. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 2.00.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Omnicom Group had a return on equity of 38.27% and a net margin of 6.72%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company earned $1.68 EPS. The firm’s quarterly revenue was down 24.7% on a year-over-year basis. On average, equities analysts predict that Omnicom Group will post 4.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 12th. Stockholders of record on Monday, September 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 42.90%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ovata Capital Management Ltd acquired a new position in shares of Omnicom Group in the 2nd quarter valued at about $26,000. Rockefeller Capital Management L.P. lifted its stake in shares of Omnicom Group by 93.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 659 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 319 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Omnicom Group during the 2nd quarter worth approximately $43,000. Meeder Asset Management Inc. lifted its position in Omnicom Group by 471.8% during the 1st quarter. Meeder Asset Management Inc. now owns 932 shares of the business services provider’s stock worth $51,000 after acquiring an additional 769 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in Omnicom Group by 8,484.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,116 shares of the business services provider’s stock worth $62,000 after acquiring an additional 1,103 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

About Omnicom Group

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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