Omnicom Group (NYSE:OMC) Hits New 52-Week Low – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $84.21 and last traded at $84.25, with a volume of 1342664 shares changing hands. The stock had previously closed at $85.10.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OMC shares. UBS Group lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Omnicom Group Price Performance

The company has a market cap of $16.41 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.07 and a beta of 0.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company’s 50 day moving average price is $95.91 and its 200 day moving average price is $96.76.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company earned $1.86 EPS. On average, equities research analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Omnicom Group’s dividend payout ratio is 38.25%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OMC. World Investment Advisors LLC increased its position in shares of Omnicom Group by 209.7% during the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after acquiring an additional 17,815 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Omnicom Group by 16.3% in the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 401 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of Omnicom Group during the third quarter worth about $713,000. Assetmark Inc. boosted its position in shares of Omnicom Group by 2.0% during the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after buying an additional 9,774 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Omnicom Group by 40.9% during the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after buying an additional 8,643 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.