Omnicom Group (NYSE:OMC) Stock Price Up 4.6% - Here's What Happened

Shares of Omnicom Group Inc. (NYSE:OMC - Get Free Report) were up 4.6% on Monday . The stock traded as high as $88.63 and last traded at $88.89. Approximately 1,967,386 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 1,805,867 shares. The stock had previously closed at $85.00.

Analyst Ratings Changes

Several equities research analysts have weighed in on OMC shares. Barclays lowered their target price on Omnicom Group from $121.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Macquarie reiterated an "outperform" rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on 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. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Finally, Argus cut Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $108.25.

Omnicom Group Stock Down 3.1 %

The business has a fifty day moving average price of $84.23 and a two-hundred day moving average price of $94.03. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98.

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Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period last year, the firm earned $2.20 EPS. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.50%. Omnicom Group's payout ratio is 37.58%.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds have recently bought and sold shares of OMC. Massachusetts Financial Services Co. MA boosted its position in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after purchasing an additional 1,992,695 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Omnicom Group during the fourth quarter worth approximately $150,819,000. FMR LLC lifted its position in shares of Omnicom Group by 250.1% in the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider's stock valued at $172,987,000 after acquiring an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Omnicom Group in the fourth quarter valued at approximately $79,321,000. Hedge funds and other 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.