Omnicom Group (NYSE:OMC) Sets New 52-Week High on Earnings Beat

Omnicom Group Inc. (NYSE:OMC)’s share price hit a new 52-week high on Tuesday following a better than expected earnings announcement. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business earned $1.86 EPS.

Wall Street Analysts Forecast Growth

OMC has been the topic of several recent analyst reports. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Macquarie upped their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday. Finally, UBS Group increased their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock 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 shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 15,375 shares in the company, valued at $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now directly owns 10,356 shares in the company, valued at $941,153.28. This represents 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 hedge funds have recently bought and sold shares of the company. Iowa State Bank grew its position in Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock worth $2,528,000 after purchasing an additional 101 shares during the last quarter. Center For Asset Management LLC increased its position in Omnicom Group by 2.6% in the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 107 shares during the period. Park Avenue Securities LLC increased its position in Omnicom Group by 1.1% in the 3rd quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock valued at $1,049,000 after acquiring an additional 113 shares during the period. Concurrent Investment Advisors LLC raised its stake in Omnicom Group by 2.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 119 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Omnicom Group by 18.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $70,000 after acquiring an additional 119 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

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

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.