Omnicom Group’s (OMC) “Neutral” Rating Reiterated at Credit Suisse Group

Omnicom Group Inc. (NYSE:OMC)‘s stock had its “neutral” rating reissued by research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday, July 14th. They currently have a $79.00 target price on the business services provider’s stock, down from their prior target price of $81.00. Credit Suisse Group’s price objective would indicate a potential upside of 0.13% from the company’s previous close.

Several other equities analysts also recently weighed in on OMC. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $90.00 to $83.00 in a report on Tuesday, June 6th. Barclays PLC reiterated a “hold” rating and set a $86.00 price target on shares of Omnicom Group in a report on Thursday, April 20th. Wedbush lowered their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Finally, Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $86.00.

Omnicom Group (NYSE:OMC) traded up 0.04% on Friday, reaching $78.90. 1,273,634 shares of the company’s stock were exchanged. Omnicom Group has a 1-year low of $77.50 and a 1-year high of $89.66. The company has a market capitalization of $18.21 billion, a P/E ratio of 15.93 and a beta of 1.27. The firm has a 50-day moving average price of $81.84 and a 200-day moving average price of $83.91.

Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the business earned $1.36 EPS. The business’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Omnicom Group will post $5.08 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by [[site]] and is the sole property of of [[site]]. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at [[permalink]].

In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the sale, the chairman now owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,183 shares of company stock valued at $2,046,845. Insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC raised its stake in Omnicom Group by 10.3% in the first quarter. Manning & Napier Advisors LLC now owns 37,940 shares of the business services provider’s stock valued at $3,270,000 after buying an additional 3,545 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Omnicom Group by 10.2% in the first quarter. CENTRAL TRUST Co now owns 2,705 shares of the business services provider’s stock valued at $233,000 after buying an additional 250 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Omnicom Group by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 210,200 shares of the business services provider’s stock valued at $18,121,000 after buying an additional 5,209 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Omnicom Group during the fourth quarter valued at about $650,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Omnicom Group during the fourth quarter valued at about $1,457,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

About Omnicom Group

Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.