Omnicom Continued Displaying Organic Growth in 2Q; Maintaining $85 FVE; Shares Fairly Valued
Omnicom closed the first half of 2019 with in line second quarter revenue and beating the consensus on the bottom line. We were pleased with organic growth, which was driven primarily by strengths in North America and Europe. Omnicom also continued to expand its operating margin. Management maintained its 2%-3% organic growth guidance for the full year, and we see no reason to change expectations. We are maintaining our $85 per share fair value estimate on this narrow-moat name. After solid seco...Omnicom Group is a holding company, engaged in providing advertising, marketing and corporate communications services. The company's networks and agencies provide a range of services in the following fundamental disciplines: advertising, customer relationship management, public relations and healthcare. The company's Service offerings include, among others, advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, and imaging.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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