Wall Street analysts forecast that Omnicom Group Inc. (NYSE:OMC) will report $4.23 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Omnicom Group’s earnings, with the highest sales estimate coming in at $4.25 billion and the lowest estimate coming in at $4.22 billion. Omnicom Group reported sales of $4.24 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.2%. The business is expected to issue its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Omnicom Group will report full year sales of $4.23 billion for the current fiscal year, with estimates ranging from $15.30 billion to $15.34 billion. For the next year, analysts forecast that the business will post sales of $15.69 billion per share, with estimates ranging from $15.49 billion to $15.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Omnicom Group.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS.
Several equities research analysts have commented on OMC shares. Morgan Stanley cut Omnicom Group from an “equal weight” rating to an “underweight” rating and set a $72.00 target price on the stock. in a research note on Monday, October 16th. Argus upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Credit Suisse Group dropped their price objective on Omnicom Group from $79.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $84.00.
In related news, Director Linda Johnson Rice sold 489 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the transaction, the director now directly owns 7,777 shares of the company’s stock, valued at approximately $577,986.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $74.31, for a total value of $617,516.10. Following the transaction, the insider now directly owns 21,271 shares in the company, valued at $1,580,648.01. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of OMC. Victory Capital Management Inc. increased its holdings in shares of Omnicom Group by 16.2% during the 2nd quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock worth $2,271,000 after acquiring an additional 3,822 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Omnicom Group by 932.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,121 shares of the business services provider’s stock valued at $923,000 after buying an additional 10,044 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Omnicom Group by 1.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 10,509 shares of the business services provider’s stock valued at $871,000 after buying an additional 195 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Omnicom Group by 5.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 65,573 shares of the business services provider’s stock valued at $5,436,000 after buying an additional 3,458 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in Omnicom Group by 85.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 193,527 shares of the business services provider’s stock valued at $16,043,000 after buying an additional 89,249 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.
Omnicom Group (OMC) traded up $0.70 during midday trading on Friday, reaching $71.06. The company’s stock had a trading volume of 2,033,300 shares, compared to its average volume of 2,895,833. The company has a market cap of $16,220.28, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79. Omnicom Group has a 12-month low of $65.32 and a 12-month high of $87.43.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 19th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, December 18th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.38%. Omnicom Group’s payout ratio is presently 47.81%.
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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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