Moffett Nathanson Raises Omnicom Group (NYSE:OMC) Price Target to $93.00

Omnicom Group (NYSE:OMC) had its target price increased by Moffett Nathanson from $89.00 to $93.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

OMC has been the subject of several other research reports. Macquarie increased their price target on Omnicom Group from $100.00 to $110.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. Wells Fargo & Company upgraded Omnicom Group from an equal weight rating to an overweight rating and increased their price target for the stock from $91.00 to $106.00 in a research note on Wednesday. BNP Paribas upgraded Omnicom Group from a neutral rating to an outperform rating and set a $115.00 price target for the company in a research note on Thursday, March 28th. UBS Group initiated coverage on Omnicom Group in a report on Thursday, January 11th. They set a buy rating and a $117.00 price objective on the stock. Finally, StockNews.com raised Omnicom Group from a hold rating to a buy rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Omnicom Group has a consensus rating of Moderate Buy and a consensus target price of $103.40.

Omnicom Group Stock Up 1.2 %

Shares of NYSE:OMC opened at $92.62 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86. The company has a market capitalization of $18.26 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. Omnicom Group has a 1 year low of $72.20 and a 1 year high of $99.23. The business has a fifty day moving average price of $91.51 and a two-hundred day moving average price of $85.32.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4 billion. Omnicom Group had a return on equity of 38.83% and a net margin of 9.96%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. Analysts forecast that Omnicom Group will post 7.73 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 8th. This represents a $2.80 annualized dividend and a dividend yield of 3.02%. Omnicom Group’s payout ratio is currently 37.84%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the sale, the director now owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Omnicom Group

Institutional investors and hedge funds have recently modified their holdings of the business. Aviva PLC raised its holdings in shares of Omnicom Group by 406.1% in the 3rd quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock valued at $9,407,000 after acquiring an additional 101,348 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Omnicom Group during the 3rd quarter valued at about $200,000. Raymond James & Associates raised its holdings in shares of Omnicom Group by 3.3% during the 4th quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock valued at $37,471,000 after buying an additional 13,709 shares in the last quarter. Arvest Investments Inc. purchased a new position in shares of Omnicom Group during the 4th quarter valued at about $1,969,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Omnicom Group by 1,627.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after buying an additional 62,640 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

About Omnicom Group

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.