Omnicom Group (NYSE:OMC) Reaches New 52-Week Low – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $84.21 and last traded at $84.25, with a volume of 1342664 shares. The stock had previously closed at $85.10.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays lifted their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Omnicom Group Price Performance

The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.07 and a beta of 0.98. The stock’s 50-day simple moving average is $96.62 and its two-hundred day simple moving average is $96.89.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the company earned $1.86 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Buying and Selling

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Omnicom Group

A number of institutional investors have recently added to or reduced their stakes in OMC. State Street Corp raised its position in Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after purchasing an additional 759,980 shares during the period. World Investment Advisors LLC increased its position in shares of Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after purchasing an additional 374,952 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after buying an additional 364,665 shares during the period. Millennium Management LLC raised its holdings in Omnicom Group by 73.0% in the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after buying an additional 324,196 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Omnicom Group by 389,021.8% in the third quarter. International Assets Investment Management LLC now owns 214,017 shares of the business services provider’s stock valued at $22,127,000 after buying an additional 213,962 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.