Omnicom Group (NYSE:OMC) Price Target Lowered to $99.00 at Wells Fargo & Company

Omnicom Group (NYSE:OMC) had its price target decreased by Wells Fargo & Company from $110.00 to $99.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

Several other brokerages have also commented on OMC. JPMorgan Chase & Co. raised their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Macquarie raised their price target on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Barclays raised their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, UBS Group raised their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.89.

Omnicom Group Stock Down 0.4 %

NYSE:OMC opened at $92.46 on Tuesday. Omnicom Group has a twelve month low of $82.26 and a twelve month high of $107.00. The company has a market cap of $18.04 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. The stock has a fifty day simple moving average of $102.43 and a 200-day simple moving average of $97.34. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. Analysts anticipate that Omnicom Group will post 7.94 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds have recently modified their holdings of OMC. Innealta Capital LLC acquired a new position in shares of Omnicom Group during the second quarter valued at about $33,000. Northwest Investment Counselors LLC acquired a new position in shares of Omnicom Group during the third quarter valued at about $33,000. Davis Capital Management acquired a new position in shares of Omnicom Group during the third quarter valued at about $36,000. HM Payson & Co. boosted its position in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.