Omnicom Group (NYSE:OMC) Price Target Lowered to $99.00 at Wells Fargo & Company

Omnicom Group (NYSE:OMC) had its target price lowered by Wells Fargo & Company from $110.00 to $99.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

OMC has been the subject of several other reports. Bank of America increased their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays increased their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Macquarie increased their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.89.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $92.46 on Tuesday. The firm’s 50 day moving average price is $102.43 and its 200-day moving average price is $97.34. Omnicom Group has a twelve month low of $82.26 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $18.04 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $1.86 EPS. Equities research analysts expect that Omnicom Group will post 7.94 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 38.25%.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in shares of Omnicom Group in the third quarter valued at $33,000. Davis Capital Management bought a new stake in Omnicom Group in the third quarter worth $36,000. Innealta Capital LLC bought a new stake in Omnicom Group in the second quarter worth $33,000. HM Payson & Co. lifted its position in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Omnicom Group in the third quarter worth $55,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

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.