Omnicom Group (OMC) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. OMC said it had a profit of $1.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.04. The company posted revenue of $3791.10 million in the period, compared to analysts expectations of $3805.82 million. OMC’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.
Many Wall Street Analysts have commented on Omnicom Group. Company shares were Reiterated by Pivotal Research Group on Oct 17, 2016 to “Hold”, Firm has raised the Price Target to $ 86 from a previous price target of $79 .RBC Capital Mkts Initiated Omnicom Group on Oct 7, 2016 to “Sector Perform”, Price Target of the shares are set at $87.Omnicom Group was Initiated by Credit Suisse to “Neutral” on Sep 15, 2016.
Omnicom Group opened for trading at $82.65 and hit $83.42 on the upside on Friday, eventually ending the session at $82.87, with a gain of 0.97% or 0.8 points. The heightened volatility saw the trading volume jump to 16,78,597 shares. Company has a market cap of $19,602 M.
In a different news, on Aug 18, 2016, Linda Johnson Rice (director) sold 824 shares at $84.55 per share price. According to the SEC, on Jun 10, 2016, Bruce Crawford (Chairman) sold 22,800 shares at $84.31 per share price. On May 26, 2016, John Wren (President and CEO) sold 35,104 shares at $82.31 per share price, according to the Form-4 filing with the securities and exchange commission.
Omnicom Group Inc. is a holding company. The Company provides advertising marketing and corporate communications services. The Company’s branded networks and agencies operate in markets around the world and provide a range of services which it groups into four disciplines: advertising customer relationship management (CRM) public relations and specialty communications. Its services in these disciplines include advertising brand consultancy content marketing corporate social responsibility consulting crisis communications data analytics and database management among others. Its advertising brands include BBDO Worldwide DDB Worldwide and TBWA Worldwide. The Company’s branded agency networks operate in geographic regions including the Americas which includes North America and Latin America; EMEA which includes Europe the Middle East and Africa and Asia Pacific which includes Australia China India Japan Korea New Zealand Singapore and other Asian countries.