Wells Fargo & Company Lowers Omnicom Group (NYSE:OMC) Price Target to $78.00

Omnicom Group (NYSE:OMC - Free Report) had its target price reduced by Wells Fargo & Company from $84.00 to $78.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider's stock.

Several other brokerages have also recently commented on OMC. Citigroup reaffirmed a "buy" rating and set a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. UBS Group cut their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Stock Up 0.1%

Omnicom Group stock traded up $0.10 during midday trading on Wednesday, hitting $70.96. 2,960,638 shares of the stock were exchanged, compared to its average volume of 2,732,099. Omnicom Group has a 52-week low of $68.37 and a 52-week high of $107.00. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The business's 50-day moving average price is $72.96 and its 200-day moving average price is $78.14. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.03. The business had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 34.16%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. On average, research analysts expect that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.95%. Omnicom Group's dividend payout ratio is presently 40.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OMC. Trust Co. of Vermont boosted its stake in shares of Omnicom Group by 88.7% during the second quarter. Trust Co. of Vermont now owns 1,049 shares of the business services provider's stock valued at $75,000 after purchasing an additional 493 shares during the period. LBP AM SA increased its holdings in Omnicom Group by 8.0% in the 2nd quarter. LBP AM SA now owns 109,658 shares of the business services provider's stock worth $7,889,000 after buying an additional 8,137 shares during the period. Alliance Wealth Advisors LLC grew its stake in shares of Omnicom Group by 25.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,283 shares of the business services provider's stock worth $308,000 after purchasing an additional 859 shares during the period. Centennial Wealth Advisory LLC lifted its position in shares of Omnicom Group by 25.1% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 7,571 shares of the business services provider's stock valued at $545,000 after buying an additional 1,517 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Omnicom Group by 7.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 118,787 shares of the business services provider's stock valued at $8,546,000 after buying an additional 8,391 shares in the last quarter. Institutional investors 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.