Nomura Securities Maintains a 'Neutral' on Omnicom Group (OMC); Results Review, First Look

Nomura Securities maintains a 'Neutral' on Omnicom Group (NYSE: OMC) price target of $52.00.

Analyst, Michael Nathanson, said, "Omnicom reported revenue growth of 7.4% (vs 6.2% estimate) and adjusted EBITA growth of 11.2% (vs 10.8% estimate), with adjusted EPS of $0.96 – a penny above our estimates and consensus. OMC’s organic growth of 5.2% came in slightly ahead of our 4.5% estimate and above consensus expectations of 4.2%. US organic revenue growth of 5.3% came in modestly better than our 4.5% estimate. EBITA margin of 13.3% was 10bp below our estimate. We maintain our Neutral rating on OMC, as we are not overly excited about the company’s investment case relative to our Buy-rated pure-play Media names. We do not see much controversy on the company’s margins, except to point out the limited operating leverage experienced by OMC over the last business cycle."

For an analyst ratings summary and ratings history on Omnicom Group click here. For more ratings news on Omnicom Group click here.

Shares of Omnicom Group closed at $48.00 yesterday.

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