QUANTRES ASSET MANAGEMENT Ltd bought a new position in Omnicom Group Inc. (NYSE:OMC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,700 shares of the business services provider’s stock, valued at approximately $660,000.
A number of other hedge funds also recently added to or reduced their stakes in OMC. Charles Schwab Investment Advisory Inc. purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $227,088,000. Unigestion Holding SA purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $49,396,000. Longview Partners Guernsey LTD lifted its position in Omnicom Group by 8.3% in the 3rd quarter. Longview Partners Guernsey LTD now owns 6,970,601 shares of the business services provider’s stock worth $474,140,000 after buying an additional 534,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Omnicom Group by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock worth $1,358,007,000 after buying an additional 427,284 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its position in Omnicom Group by 15.1% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,138,639 shares of the business services provider’s stock worth $182,123,000 after buying an additional 412,929 shares in the last quarter.
A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. Royal Bank of Canada cut their price target on shares of Omnicom Group to $75.00 and set a “$70.60” rating on the stock in a report on Wednesday, July 18th. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, Barclays set a $76.00 price target on shares of Omnicom Group and gave the company a “sell” rating in a report on Wednesday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $75.40.
Shares of OMC opened at $72.43 on Tuesday. The firm has a market capitalization of $15.92 billion, a P/E ratio of 14.20, a PEG ratio of 2.15 and a beta of 1.06. Omnicom Group Inc. has a one year low of $65.32 and a one year high of $83.34. The company has a current ratio of 0.87, a quick ratio of 0.77 and a debt-to-equity ratio of 1.48.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.21 by $0.03. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.68 billion. Omnicom Group had a net margin of 7.68% and a return on equity of 41.70%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. On average, research analysts expect that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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