Omnicom Group (NYSE:OMC) Shares Gap Down – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $103.42, but opened at $98.87. Omnicom Group shares last traded at $97.28, with a volume of 3,295,294 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective 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. increased 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. Finally, Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Trading Down 8.7 %

The company has a market cap of $18.42 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.32 and a beta of 0.94. The business’s 50-day moving average price is $102.64 and its 200 day moving average price is $97.35. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period last year, the business posted $1.86 EPS. As a group, analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. Omnicom Group’s dividend payout ratio is currently 38.25%.

Insider Activity at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was 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 in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Trading of Omnicom Group

Several hedge funds and other institutional investors have recently bought and sold shares of OMC. State Street Corp grew its position in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after purchasing an additional 759,980 shares in the last quarter. Geode Capital Management LLC grew its position in Omnicom Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock worth $525,960,000 after buying an additional 72,447 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after acquiring an additional 892,494 shares during the period. Cooke & Bieler LP raised its holdings in Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares during the period. 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.