Omnicom Group (NYSE:OMC) Hits New 12-Month High Following Strong Earnings

Omnicom Group Inc. (NYSE:OMC)’s stock price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $105.14 and last traded at $104.90, with a volume of 245361 shares trading hands. The stock had previously closed at $103.26.

The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $106.00 to $110.00 in a report on Wednesday. Barclays lifted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group upped their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Macquarie boosted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.30.

Insider Transactions at Omnicom Group

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Omnicom Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Davis Capital Management bought a new position in Omnicom Group in the third quarter valued at $36,000. Innealta Capital LLC bought a new position in shares of Omnicom Group during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group during the second quarter valued at about $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 1st quarter valued at about $50,000. Finally, Richardson Financial Services Inc. boosted its holdings in Omnicom Group by 66.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 224 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.3 %

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a 50-day moving average of $99.85 and a 200-day moving average of $95.15. The firm has a market capitalization of $20.61 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

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.