Omnicom Group (OMC) Cut to Sector Perform at Royal Bank of Canada

Omnicom Group (NYSE:OMC) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, Marketbeat reports. They currently have a $83.00 price objective on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 5.44% from the stock’s current price.

Several other research analysts have also recently issued reports on OMC. TheStreet cut shares of Omnicom Group from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. Pivotal Research cut their target price on shares of Omnicom Group from $76.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday. Barclays restated a “hold” rating and issued a $81.00 target price on shares of Omnicom Group in a report on Thursday, January 25th. Morgan Stanley raised their target price on shares of Omnicom Group from $72.00 to $76.00 and gave the stock an “underweight” rating in a report on Wednesday, January 31st. Finally, ValuEngine cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and a consensus price target of $83.07.

Omnicom Group (NYSE OMC) opened at $78.72 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. Omnicom Group has a fifty-two week low of $65.32 and a fifty-two week high of $86.71. The stock has a market cap of $18,126.70, a P/E ratio of 15.59, a PEG ratio of 2.56 and a beta of 1.20.

Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Omnicom Group had a net margin of 7.12% and a return on equity of 41.86%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the business earned $1.47 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. research analysts forecast that Omnicom Group will post 5.5 EPS for the current fiscal year.

In related news, insider Peter K. Sherman sold 8,310 shares of Omnicom Group stock in a transaction on Monday, December 11th. The shares were sold at an average price of $74.31, for a total value of $617,516.10. Following the sale, the insider now owns 21,271 shares in the company, valued at $1,580,648.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in OMC. Perigon Wealth Management LLC boosted its holdings in Omnicom Group by 17.1% in the second quarter. Perigon Wealth Management LLC now owns 9,491 shares of the business services provider’s stock valued at $793,000 after acquiring an additional 1,387 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Omnicom Group by 92.1% in the third quarter. Shell Asset Management Co. now owns 35,729 shares of the business services provider’s stock valued at $2,460,000 after acquiring an additional 17,125 shares in the last quarter. PGGM Investments boosted its holdings in Omnicom Group by 23.1% in the third quarter. PGGM Investments now owns 640,112 shares of the business services provider’s stock valued at $47,413,000 after acquiring an additional 120,091 shares in the last quarter. Alpha Windward LLC boosted its holdings in Omnicom Group by 1,221.8% in the third quarter. Alpha Windward LLC now owns 6,556 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 6,060 shares in the last quarter. Finally, Albert D Mason Inc. boosted its holdings in Omnicom Group by 16.0% in the third quarter. Albert D Mason Inc. now owns 30,986 shares of the business services provider’s stock valued at $2,295,000 after acquiring an additional 4,275 shares in the last quarter. Institutional investors and hedge funds own 98.62% of the company’s stock.

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Omnicom Group Company Profile

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.

Analyst Recommendations for Omnicom Group (NYSE:OMC)

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