Omnicom Group Inc. (NYSE:OMC) announced a quarterly dividend on Monday, July 15th, RTT News reports. Shareholders of record on Friday, September 20th will be paid a dividend of 0.65 per share by the business services provider on Thursday, October 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, September 19th.
Omnicom Group has increased its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 9 years. Omnicom Group has a payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Omnicom Group to earn $6.39 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 40.7%.
Shares of OMC stock opened at $78.97 on Tuesday. The stock has a 50 day moving average of $77.89 and a two-hundred day moving average of $78.55. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.81. Omnicom Group has a 12 month low of $65.85 and a 12 month high of $85.05. The company has a market capitalization of $17.43 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.62 and a beta of 0.72.
In other news, SVP Andrew Castellaneta sold 2,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $80.16, for a total value of $160,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
A number of brokerages have commented on OMC. Citigroup reduced their price objective on Omnicom Group from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. BMO Capital Markets downgraded Omnicom Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $88.00 to $86.00 in a research report on Sunday, July 14th. Barclays reiterated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Sunday, July 21st. Finally, ValuEngine downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and an average price target of $80.83.
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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