Omnicom Group (NYSE:OMC) Shares Down 5.5% Following Analyst Downgrade

Omnicom Group Inc. (NYSE:OMC) shares dropped 5.5% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $110.00 to $105.00. Barclays currently has an overweight rating on the stock. Omnicom Group traded as low as $72.64 and last traded at $72.64. Approximately 2,320,265 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 2,158,114 shares. The stock had previously closed at $76.83.

Other research analysts have also issued research reports about the stock. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. UBS Group cut their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their target price on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Citigroup reiterated a “buy” rating and issued a $103.00 price target on shares of Omnicom Group in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.29.

Institutional Trading of Omnicom Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Omnicom Group by 1.7% in the third quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after buying an additional 13,637 shares during the last quarter. Virtu Financial LLC acquired a new stake in Omnicom Group during the 3rd quarter valued at approximately $498,000. Sanctuary Advisors LLC boosted its holdings in shares of Omnicom Group by 33.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,551 shares of the business services provider’s stock valued at $1,797,000 after acquiring an additional 4,423 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of Omnicom Group by 209.7% in the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after acquiring an additional 17,815 shares during the period. Finally, Arvest Bank Trust Division acquired a new stake in shares of Omnicom Group in the third quarter worth $21,191,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Up 2.7 %

The stock has a market cap of $14.38 billion, a PE ratio of 9.82, a PEG ratio of 1.94 and a beta of 0.87. The company’s fifty day moving average is $79.76 and its 200-day moving average is $89.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. On average, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Tuesday, March 11th. Omnicom Group’s payout ratio is presently 37.58%.

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.