Omnicom Group (NYSE:OMC) Shares Gap Down - Here's What Happened

Omnicom Group Inc. (NYSE:OMC - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $74.66, but opened at $72.58. Omnicom Group shares last traded at $73.27, with a volume of 677,205 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, June 23rd. Citigroup reissued a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. UBS Group dropped their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $95.29.

Omnicom Group Stock Performance

The firm has a market capitalization of $14.25 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01. The stock has a 50-day moving average of $73.38 and a 200 day moving average of $78.63.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.83%. Omnicom Group's payout ratio is 38.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Perpetual Ltd lifted its stake in shares of Omnicom Group by 12.9% in the 2nd quarter. Perpetual Ltd now owns 2,883 shares of the business services provider's stock valued at $207,000 after purchasing an additional 329 shares during the period. International Private Wealth Advisors LLC lifted its stake in shares of Omnicom Group by 5.6% in the 2nd quarter. International Private Wealth Advisors LLC now owns 4,405 shares of the business services provider's stock valued at $317,000 after purchasing an additional 234 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Omnicom Group by 20.9% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 97,618 shares of the business services provider's stock valued at $7,070,000 after purchasing an additional 16,900 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Omnicom Group by 7.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 38,331 shares of the business services provider's stock valued at $2,758,000 after purchasing an additional 2,788 shares during the period. Finally, HF Advisory Group LLC lifted its stake in shares of Omnicom Group by 39.1% in the 2nd quarter. HF Advisory Group LLC now owns 6,743 shares of the business services provider's stock valued at $485,000 after purchasing an additional 1,896 shares during the period. 91.97% of the stock is currently owned by institutional investors.

About Omnicom Group

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.