Omnicom Group (NYSE:OMC) Price Target Raised to $114.00
by Michael Walen · The Markets DailyOmnicom Group (NYSE:OMC – Get Free Report) had its price target boosted by equities researchers at UBS Group from $108.00 to $114.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. UBS Group’s target price points to a potential upside of 51.88% from the company’s current price.
Several other equities research analysts have also commented on the stock. Citigroup boosted their price target on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Morgan Stanley started coverage on Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Bank of America reissued an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.86.
View Our Latest Stock Analysis on OMC
Omnicom Group Price Performance
Shares of OMC traded down $0.78 during mid-day trading on Friday, hitting $75.06. 1,288,921 shares of the stock were exchanged, compared to its average volume of 4,927,298. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market cap of $23.29 billion, a PE ratio of 153.51, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Omnicom Group has a 52-week low of $66.33 and a 52-week high of $87.17. The firm has a 50-day moving average of $77.66 and a two-hundred day moving average of $77.09.
Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities analysts predict that Omnicom Group will post 8.25 earnings per share for the current year.
Omnicom Group declared that its board has initiated a stock repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
Institutional Investors Weigh In On Omnicom Group
A number of large investors have recently modified their holdings of OMC. Activest Wealth Management boosted its holdings in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the period. Bayforest Capital Ltd bought a new position in Omnicom Group in the fourth quarter worth about $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the fourth quarter worth about $26,000. Capital A Wealth Management LLC boosted its stake in Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 318 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.
About Omnicom Group
Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.
The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.