BMO Capital Reiterates Market Perform Following Omnicom Group's (OMC) 2Q Results

BMO Capital maintained a Market Perform rating and $80.00 price target on Omnicom Group (NYSE: OMC) following the company's 2Q earnings report. OMC reported EPS of $1.36, coming in above the consensus estimate of $1.33.

Analyst Daniel Salmon commented, "2Q16 EPS of $1.36 was above our $1.32 and consensus of $1.33. The EPS beat came entirely from below the line items. Organic revenue growth of +3.4% was in-line with our estimate and slightly below consensus of +3.6%. Results wereled by Advertising (+7.7% vs. our +6.2%) and Specialty (+4.4% vs. our +1.3%), while CRM (-2.7% vs. our +0.5%) and PR (+0.1% vs. our +0.4%) were laggards. Management continues to expect 2016 organic growth to be in therange of +3.0 to +3.5% and for 30 bps of margin expansion in the year."

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 $84.96 yesterday.

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