Omnicom Group Inc. (OMC) Rating Lowered to Underweight at Morgan Stanley

Omnicom Group Inc. (NYSE:OMC) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Monday. They presently have a $72.00 price target on the business services provider’s stock. Morgan Stanley’s target price points to a potential downside of 4.75% from the stock’s current price.

A number of other equities analysts have also recently weighed in on OMC. BidaskClub cut Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Credit Suisse Group cut their price target on Omnicom Group from $79.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, October 11th. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price target on shares of Omnicom Group in a report on Thursday, September 21st. Finally, Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.14.

Shares of Omnicom Group (NYSE OMC) opened at 75.59 on Monday. Omnicom Group has a 12 month low of $71.63 and a 12 month high of $89.66. The stock has a market capitalization of $17.44 billion, a PE ratio of 15.26 and a beta of 1.28. The company’s 50 day moving average price is $73.93 and its 200 day moving average price is $79.93.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Omnicom Group will post $5.09 earnings per share for the current fiscal year.

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In other news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in OMC. BlackRock Inc. grew its position in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after purchasing an additional 16,507,161 shares during the period. Janus Henderson Group PLC grew its position in shares of Omnicom Group by 15,279.3% in the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after purchasing an additional 4,963,787 shares during the period. Beutel Goodman & Co Ltd. purchased a new stake in shares of Omnicom Group in the second quarter valued at $153,358,000. Nordea Investment Management AB grew its position in shares of Omnicom Group by 501.5% in the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock valued at $182,531,000 after purchasing an additional 1,835,749 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Omnicom Group by 90.0% in the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after purchasing an additional 1,256,005 shares during the period. 98.57% of the stock is owned by institutional investors and hedge funds.

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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