Omnicom Group (NYSE:OMC) Reaches New 1-Year High on Earnings Beat

Omnicom Group Inc. (NYSE:OMC)’s share price reached 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. 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 return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business posted $1.86 earnings per share.

Wall Street Analyst Weigh In

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

Insider Activity

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

Institutional Trading of Omnicom Group

A number of institutional investors and hedge funds have recently bought and sold shares of OMC. Boston Trust Walden Corp grew its stake in Omnicom Group by 8.2% during the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after buying an additional 14,153 shares during the period. Norden Group LLC acquired a new stake in Omnicom Group in the 1st quarter valued at $1,860,000. Central Pacific Bank Trust Division raised its position in Omnicom Group by 16.3% in the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 401 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of Omnicom Group during the first quarter worth about $1,534,000. Finally, SG Americas Securities LLC boosted its position in shares of Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock worth $5,784,000 after buying an additional 17,414 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.3 %

The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth 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 business 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.