Omnicom Group (NYSE:OMC) Upgraded at Bank of America

Bank of America upgraded shares of Omnicom Group (NYSE:OMC - Free Report) from an underperform rating to a neutral rating in a research report sent to investors on Monday, MarketBeat reports. The brokerage currently has $80.00 price target on the business services provider's stock.

OMC has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Barclays reduced their price target on shares of Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. UBS Group reduced their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, Citigroup reissued a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.43.

Omnicom Group Trading Up 0.8%

NYSE OMC traded up $0.55 during trading hours on Monday, reaching $71.24. The company had a trading volume of 5,988,895 shares, compared to its average volume of 2,551,218. The stock has a 50-day moving average of $73.58 and a 200 day moving average of $79.73. Omnicom Group has a 1-year low of $68.37 and a 1-year high of $107.00. 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 stock has a market capitalization of $13.90 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results 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. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. As a group, research analysts anticipate that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.93%. Omnicom Group's dividend payout ratio (DPR) is 38.30%.

Institutional Trading of Omnicom Group

Hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Omnicom Group by 146.6% in the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in Omnicom Group by 153.8% in the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Omnicom Group in the first quarter valued at approximately $34,000. Gen Wealth Partners Inc acquired a new stake in Omnicom Group in the first quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised its holdings in Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

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.