Omnicom Group (NYSE:OMC) Hits New 1-Year Low – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC) shares reached a new 52-week low on Monday . The company traded as low as $81.42 and last traded at $82.24, with a volume of 296732 shares traded. The stock had previously closed at $82.07.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OMC shares. Wells Fargo & Company dropped their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. Barclays raised their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Omnicom Group Price Performance

The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.03 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company’s 50 day simple moving average is $94.45 and its 200-day simple moving average is $96.64.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter last year, the business earned $1.86 earnings per share. On average, equities research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is 38.25%.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

A number of large investors have recently bought and sold shares of the stock. Carnegie Investment Counsel grew its stake in shares of Omnicom Group by 3.0% during the 4th quarter. Carnegie Investment Counsel now owns 23,017 shares of the business services provider’s stock valued at $1,980,000 after buying an additional 680 shares during the period. Meyer Handelman Co. boosted its holdings in Omnicom Group by 15.9% in the fourth quarter. Meyer Handelman Co. now owns 190,314 shares of the business services provider’s stock valued at $16,375,000 after acquiring an additional 26,073 shares during the last quarter. Park Avenue Securities LLC grew its position in Omnicom Group by 29.3% during the fourth quarter. Park Avenue Securities LLC now owns 13,121 shares of the business services provider’s stock valued at $1,129,000 after acquiring an additional 2,970 shares during the period. Elevated Capital Advisors LLC grew its position in Omnicom Group by 13.8% during the fourth quarter. Elevated Capital Advisors LLC now owns 9,624 shares of the business services provider’s stock valued at $828,000 after acquiring an additional 1,165 shares during the period. Finally, Czech National Bank increased its stake in Omnicom Group by 6.1% during the fourth quarter. Czech National Bank now owns 42,301 shares of the business services provider’s stock worth $3,640,000 after acquiring an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.