Omnicom Kicked Off 2018 With Strong 1Q Results; Maintaining $85 FVE; Shares Remain Undervalued
Omnicom’s 2018 first-quarter results beat our expectations and consensus with strong organic growth partially offset by the impact of dispositions. Management maintained its full-year organic growth guidance of 2%-3%. We slightly adjusted our full-year revenue projection higher, but are maintaining our $85 fair value estimate for the company. While the stock is up 2% in reaction to the strong first quarter numbers, it remains a 4-star name, and we continue to view shares of this narrow-moat name...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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