Omnicom Group (NYSE:OMC) Price Target Lowered to $84.00 at Wells Fargo & Company

Omnicom Group (NYSE:OMC) had its target price cut by Wells Fargo & Company from $99.00 to $84.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. UBS Group dropped their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Citigroup reissued a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays reduced their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.88.

Omnicom Group Trading Down 7.1 %

Shares of Omnicom Group stock opened at $71.35 on Wednesday. The firm’s 50 day moving average is $79.94 and its 200 day moving average is $89.89. The firm has a market capitalization of $14.02 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. Omnicom Group has a 1 year low of $69.13 and a 1 year high of $107.00. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. Equities research analysts forecast that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.92%. Omnicom Group’s dividend payout ratio is currently 37.58%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. ST Germain D J Co. Inc. bought a new position in shares of Omnicom Group during the 4th quarter worth about $25,000. Versant Capital Management Inc increased its holdings in shares of Omnicom Group by 645.2% during the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 271 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 195 shares during the period. Johnson Financial Group Inc. lifted its holdings in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in shares of Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider’s stock worth $40,000 after purchasing an additional 404 shares in the last quarter. 91.97% of the stock is owned by 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.