Omnicom Group (NYSE:OMC) released its quarterly earnings results on Wednesday. The business services provider reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.07, RTT News reports. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. Omnicom Group had a return on equity of 43.69% and a net margin of 8.89%. Omnicom Group’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share.
NYSE:OMC opened at $81.35 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88. The company has a market capitalization of $17.96 billion, a P/E ratio of 14.15, a PEG ratio of 2.75 and a beta of 0.71. Omnicom Group has a 52-week low of $65.85 and a 52-week high of $85.05. The stock’s 50-day moving average price is $81.23.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.20%. Omnicom Group’s payout ratio is presently 45.22%.
In related news, SVP Andrew Castellaneta sold 4,400 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $80.24, for a total transaction of $353,056.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Wren sold 60,541 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total value of $4,833,593.44. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Sontag Advisory LLC bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $28,000. Capital Financial Planning LLC bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $30,000. Marino Stram & Associates LLC bought a new position in shares of Omnicom Group during the 1st quarter worth approximately $30,000. Cornerstone Advisors Inc. boosted its stake in shares of Omnicom Group by 117.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock worth $33,000 after acquiring an additional 220 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Omnicom Group during the 1st quarter worth approximately $40,000.
A number of research analysts recently issued reports on OMC shares. BMO Capital Markets downgraded Omnicom Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $88.00 to $86.00 in a report on Sunday, July 14th. Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus price target of $80.17.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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