Omnicom Group (NYSE:OMC), a global conglomerate of three leading public relations agencies, has maintained an Overweight recommendation from JP Morgan this Friday. The financial institution has set a one-year price target for the company, indicating a potential upside of 31.35% from the current price of $72.91.
The company's projected annual revenue stands at approximately 14,033MM, marking a decrease of about 2.31%.According to InvestingPro Data, Omnicom's revenue growth has been accelerating, with an increase of 0.68% in the last twelve months (LTM2023.Q2) and a quarterly growth of 1.2% (FY2023.Q2). The revenue for the last twelve months was reported at 14364.8M USD.
Omnicom has announced a regular quarterly dividend of $0.70 per share, payable on October 12, 2023 to shareholders on record as of September 21, 2023. This represents a yield of 3.84%, slightly above the five-year average yield of 3.72%. The company's dividend payout ratio stands at 0.40 with a three-year growth rate of 0.08%. Notably, as per InvestingPro Tips, the company has maintained dividend payments for an impressive 53 consecutive years, demonstrating its commitment to returning value to shareholders.
There has been noteworthy institutional activity around Omnicom's shares. Currently, OMC is held by 1684 funds or institutions with the average portfolio weight dedicated to it decreasing by about 9.65%. The put/call ratio for OMC stands at a bullish level of 0.57.
Ownership changes among key stakeholders have also been observed. FIL increased its stake by 2.65%, while VTSMX reduced its stake by 0.79%. Wellington Management Group LLP and Charles Schwab (NYSE:SCHW) Investment Management decreased their portfolio allocations in OMC by 11.30% and 6.02% respectively, whereas VFINX increased its stake by 0.42%. Overall institutional ownership in the company decreased by 0.69%.
Another noteworthy point from InvestingPro Tips is that Omnicom's management has been aggressively buying back shares, which often indicates confidence in the company's future performance. Moreover, the company operates with a moderate level of debt and its cash flows can sufficiently cover interest payments, suggesting a healthy financial position.
For more insights into Omnicom's performance and potential, investors can access additional InvestingPro Tips here. These tips include detailed information about factors such as the company's P/E ratio, gross profit margins, and return on invested capital.
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