Omnicom Group (NYSE:OMC) Releases Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Omnicom Group reported earnings of $2.24 per share for the quarter, exceeding expectations by $0.07, with a 4.0% year-over-year revenue increase.
• Currently, 91.97% of Omnicom's stock is owned by institutional investors, with several hedge funds increasing their stakes recently.
• Analysts have a consensus rating of "Moderate Buy" for Omnicom Group, with a target price averaging $96.29, following mixed upgrades and downgrades from various firms.

Omnicom Group (NYSE:OMC - Get Free Report) released its quarterly earnings results on Tuesday. The business services provider reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.07, Zacks reports. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 EPS.

Omnicom Group Trading Up 0.8%

Shares of OMC stock traded up $0.61 during mid-day trading on Tuesday, hitting $78.80. 4,061,352 shares of the company's stock were exchanged, compared to its average volume of 3,654,929. Omnicom Group has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The stock has a 50-day simple moving average of $77.51 and a two-hundred day simple moving average of $74.92. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.51 and a beta of 0.96.

Institutional Investors Weigh In On Omnicom Group

Hedge funds have recently made changes to their positions in the business. Binnacle Investments Inc raised its position in shares of Omnicom Group by 17.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider's stock worth $81,000 after buying an additional 169 shares during the period. Benjamin Edwards Inc. raised its position in Omnicom Group by 1.8% in the second quarter. Benjamin Edwards Inc. now owns 23,425 shares of the business services provider's stock valued at $1,685,000 after purchasing an additional 407 shares during the period. Financial Advisors Network Inc. increased its position in shares of Omnicom Group by 16.3% during the second quarter. Financial Advisors Network Inc. now owns 3,205 shares of the business services provider's stock worth $231,000 after acquiring an additional 449 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Omnicom Group during the second quarter worth about $37,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Omnicom Group during the second quarter worth about $42,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a report on Wednesday, October 8th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.