Yahoo Finance Omnicom (OMC) Snaps Up FP1 Strategies & PLUS Communications
Omnicom Group Inc. OMC shares have gained 17.2% in the past year, significantly outperforming the 4.3% rally of the industry it belongs to and the 11.3% rise of the Zacks S&P 500 composite.
The company yesterday announced that its public relations arm, Omnicom PR Group (OPRG), has acquired political consultancy firm, FP1 Strategies, and its sister public affairs firm PLUS Communications. Financial terms of the deal were kept under wraps.
Omnicom Group Inc. Price
Omnicom Group Inc. price | Omnicom Group Inc. Quote
Danny Diaz, Jon Downs and Terry Nelson founded FP1 in 2011. They, along with FP1 managing partners Rob Jesmer and Dave DenHerder, started PLUS in 2019.
FP1 specializes in campaign advertising and consulting and serves candidates for public office and public policy organizations. PLUS focuses on corporate and crisis communications, including coalition building, grassroots mobilization, advertising, digital engagement and media relations.
Omnicom Strengthens Position in Global Public Affairs
Through the buyout, Omnicom has added two specialist agencies to its existing lineup of public affairs and political consulting firms, which include Vox, Mercury, Portland, DDC and GMMB. The move should enhance and expand OMC’s offerings in public affairs, and corporate and political consulting. Omnicom has acquired significant talent through the addition of PLUS’s 200 staff, including 20 partners.
OPRG Global CEO Chris Foster said, "With the addition of PLUS Communications and FP1 Strategies and their deep expertise in healthcare, technology and crisis communications, our ability to serve our clients on the global public affairs stage is now at a whole new level."
Omnicom's presence in various segments of the advertising and marketing industry not only diversifies its revenue streams but also equips it with the flexibility and expertise needed to effectively navigate the ever-evolving and dynamic marketing landscape.
Zacks Rank and Stocks to Consider
Omnicom currently carries a Zacks Rank #3 (Hold).
Here are a few better-ranked stocks from the broader Business Service sector that warrant a look.
DocuSign DOCU beat the Zacks Consensus Estimate in all the four trailing quarters, with an earnings surprise of 27.1%. The current consensus estimate for revenues indicates an 8.1% increase from the year-ago figure. The consensus mark for earnings is pegged at $2.52 per share, indicating 24.1% year-over-year growth. DOCU currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Accenture ACN currently carries a Zacks Rank #2. The Zacks Consensus Estimate for fiscal 2023 revenues is pegged at $64.18 billion, 4.2% higher than the year-ago reported figure. The consensus estimate for ACN’s bottom line is pegged at $11.59, indicating 4.2% year-over-year growth. It beat the Zacks Consensus Estimate in all the four trailing quarters, with an average of 5.7%.
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Omnicom Group Inc. (OMC) : Free Stock Analysis Report
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