JPMorgan Chase & Co. Cuts Omnicom Group (NYSE:OMC) Price Target to $104.00

Omnicom Group (NYSE:OMC) had its target price cut by JPMorgan Chase & Co. from $116.00 to $104.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. UBS Group cut their target price 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. Citigroup restated a “buy” rating and issued a $103.00 price target on shares of Omnicom Group in a research report on Tuesday. Finally, Barclays cut their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.29.

Omnicom Group Trading Up 2.7 %

NYSE:OMC opened at $73.16 on Wednesday. The company’s 50 day moving average is $79.57 and its 200-day moving average is $89.47. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. Omnicom Group has a 12 month low of $69.13 and a 12 month high of $107.00. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 1.94 and a beta of 0.87.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. Equities analysts anticipate that Omnicom Group will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, March 11th. Omnicom Group’s payout ratio is 37.58%.

Institutional Trading of Omnicom Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMC. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 50.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after purchasing an additional 1,992,695 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Omnicom Group in the 4th quarter valued at $150,819,000. FMR LLC boosted its stake in Omnicom Group by 250.1% in the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock valued at $172,987,000 after buying an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. grew its position in Omnicom Group by 91.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock valued at $184,730,000 after acquiring an additional 1,027,567 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Omnicom Group during the fourth quarter worth $79,321,000. 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.