Pivotal Research analyst Brian Wieser reiterated a Hold rating on Omnicom Group (NYSE: OMC) today and set a price target of $68. The company’s shares opened today at $74.
Wieser commented:
“We continue to rate the stock Hold. Omnicom reported 2Q18 earnings on Tuesday. Organic revenue growth was +2.0%, which came in below expectations. EPS of $1.60 was above expectations on slightly better margins, a much lower tax rate and accelerated buybacks vs. our forecasts. At a regional level, the company’s biggest region, North America, fell -0.9% organically on relatively easy comps, and the UK was down -2.2% on difficult comps. Euro markets (and other Europe) accelerated again, this time above the high single digit growth rates of the prior three quarters to achieve +11.2% organic growth. Europe’s growth was described at a country level and in general terms, but meaningful descriptions of drivers were not provided on the call. APAC was up +8.5% also vs. difficult comparables, while Latin America was softer at -5.0%.”
According to TipRanks.com, Wieser is a 5-star analyst with an average return of 9.8% and a 72.7% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Nielsen Holdings, and 21st Century Fox.
The word on The Street in general, suggests a Hold analyst consensus rating for Omnicom Group with a $75 average price target, which is a 1.4% upside from current levels. In a report issued on July 12, Wells Fargo also maintained a Hold rating on the stock.
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Omnicom Group’s market cap is currently $17.75B and has a P/E ratio of 16.41. The company has a Price to Book ratio of 6.76.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock.
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Omnicom Group, Inc. is a holding company, which engages in the management and provision of advertising agencies. It offers marketing and corporate communications services. The company was founded in 1986 and is headquartered in New York, NY.
