Report
Ali Mogharabi
EUR 101.80 For Business Accounts Only

Publicis Provides Mixed 3Q Sales Update; Organic Growth Strengthened; Shares Now Undervalued

Mainly due to the negative impact of foreign exchange, Publicis reported third-quarter 2017 revenue below consensus. However, the firm did beat total organic growth expectations for the quarter, which we view as good news and further indication that other ad holding firms such as IPG and WPP likely will do the same. Publicis’ figures also displayed sales strength returning to the largest region, North America, offset partially by decline in Europe due to last year’s big comparable. Plus, managem...
Underlying
Omnicom Group Inc

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Ali Mogharabi

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