JPMorgan Chase & Co. Lowers Omnicom Group (NYSE:OMC) Price Target to $104.00

Omnicom Group (NYSE:OMCFree Report) had its price target trimmed by JPMorgan Chase & Co. from $106.00 to $104.00 in a research note released on Wednesday morning, Briefing.com reports. The firm currently has an overweight rating on the business services provider’s stock.

Several other analysts have also recently weighed in on OMC. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $85.00 to $91.00 and gave the stock an equal weight rating in a research note on Wednesday. Macquarie raised shares of Omnicom Group from a neutral rating to an outperform rating and upped their price target for the company from $80.00 to $100.00 in a research report on Friday, January 5th. Citigroup cut their price target on shares of Omnicom Group from $113.00 to $112.00 and set a buy rating on the stock in a research report on Thursday, October 19th. Morgan Stanley raised shares of Omnicom Group from an equal weight rating to an overweight rating and upped their price target for the company from $90.00 to $100.00 in a research report on Friday, December 15th. Finally, Barclays upped their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the company an equal weight rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Omnicom Group currently has an average rating of Hold and an average target price of $99.22.

Check Out Our Latest Stock Report on OMC

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $84.59 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.16. Omnicom Group has a twelve month low of $72.20 and a twelve month high of $99.23. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.43 and a beta of 0.97. The company’s fifty day moving average is $86.99 and its 200 day moving average is $81.00.

Omnicom Group (NYSE:OMCGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. Omnicom Group had a net margin of 9.47% and a return on equity of 39.07%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Omnicom Group’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Omnicom Group will post 7.71 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, December 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. Omnicom Group’s dividend payout ratio is currently 40.46%.

Hedge Funds Weigh In On Omnicom Group

Several institutional investors have recently made changes to their positions in OMC. OFI Invest Asset Management acquired a new stake in shares of Omnicom Group in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC acquired a new stake in shares of Omnicom Group in the 4th quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Omnicom Group in the 4th quarter worth about $26,000. Pinnacle Bancorp Inc. raised its holdings in shares of Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Omnicom Group by 141.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 304 shares of the business services provider’s stock worth $29,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

About Omnicom Group

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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 brand consulting, experiential, execution and support, public relations, and healthcare.

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