Omnicom Group (NYSE:OMC) Trading Up 4.6% – Time to Buy?

Omnicom Group Inc. (NYSE:OMC)’s stock price shot up 4.6% during trading on Monday . The company traded as high as $88.63 and last traded at $88.89. 1,967,386 shares were traded during trading, an increase of 9% from the average session volume of 1,805,867 shares. The stock had previously closed at $85.00.

Analyst Ratings Changes

Several brokerages recently weighed in on OMC. JPMorgan Chase & Co. cut their price target 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. Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Finally, Barclays reduced their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Price Performance

The stock’s 50-day moving average price is $84.35 and its 200 day moving average price is $94.13. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.94 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Omnicom Group’s dividend payout ratio is presently 37.58%.

Hedge Funds Weigh In On Omnicom Group

Institutional investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC grew its holdings in Omnicom Group by 1.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider’s stock valued at $683,000 after buying an additional 113 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of Omnicom Group by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 6,302 shares of the business services provider’s stock valued at $652,000 after acquiring an additional 120 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its holdings in shares of Omnicom Group by 3.5% in the third quarter. Sompo Asset Management Co. Ltd. now owns 3,870 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 130 shares during the period. Center For Asset Management LLC increased its position in Omnicom Group by 3.3% during the fourth quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock worth $389,000 after purchasing an additional 146 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.