Global advertising giant Omnicom Group (NYSE:OMC) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.
Omnicom Group met analysts’ revenue expectations last quarter, reporting revenues of $4.32 billion, up 6.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ organic revenue estimates.
Is Omnicom Group a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Omnicom Group’s revenue to grow 1.8% year on year to $3.70 billion, slowing from the 5.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Omnicom Group has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.9% on average.
With Omnicom Group being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for media & entertainment stocks. However, the whole sector has been hit hard over the last month as stocks in Omnicom Group’s peer group are down 7.8% on average. Omnicom Group is down 5% during the same time and is heading into earnings with an average analyst price target of $108.53 (compared to the current share price of $75.60).
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