Omnicom Group (NYSE:OMC) Shares Gap Down - Time to Sell?

Omnicom Group Inc. (NYSE:OMC - Get Free Report)'s share price gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OMC shares. UBS Group lowered 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. Citigroup restated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Bank of America upgraded 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. Wells Fargo & Company decreased their price objective on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $96.43.

Omnicom Group Stock Down 2.6%

The firm has a 50 day moving average price of $73.42 and a 200-day moving average price of $78.72. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The firm has a market cap of $14.18 billion, a PE ratio of 9.95, a PEG ratio of 1.64 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is presently 38.30%.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently made changes to their positions in OMC. Pacer Advisors Inc. raised its position in shares of Omnicom Group by 17,506.1% during the 1st quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock worth $227,512,000 after acquiring an additional 2,728,494 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after buying an additional 1,992,695 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Omnicom Group during the fourth quarter worth approximately $150,819,000. FMR LLC increased its position in Omnicom Group by 250.1% during the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider's stock worth $172,987,000 after buying an additional 1,436,231 shares during the period. Finally, Baird Financial Group Inc. increased its position in Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock worth $323,040,000 after buying an additional 1,199,725 shares during the period. Institutional investors and hedge funds 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.