Owens & Minor (NYSE:OMI) Announces Earnings Results

by · The Markets Daily

Owens & Minor (NYSE:OMI – Get Free Report) issued its earnings results on Monday. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01, Briefing.com reports. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Owens & Minor updated its FY 2024 guidance to 1.450-1.550 EPS and its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Trading Down 6.0 %

Shares of NYSE:OMI traded down $0.81 during midday trading on Thursday, reaching $12.80. 348,519 shares of the company’s stock were exchanged, compared to its average volume of 835,304. The firm’s 50 day simple moving average is $14.41 and its two-hundred day simple moving average is $16.08. Owens & Minor has a fifty-two week low of $11.42 and a fifty-two week high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.51. The stock has a market cap of $986.83 million, a price-to-earnings ratio of -20.94, a P/E/G ratio of 0.39 and a beta of 0.41.

Wall Street Analysts Forecast Growth

OMI has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, August 21st. Robert W. Baird reduced their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays dropped their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.50.

Check Out Our Latest Stock Analysis on OMI

About Owens & Minor

(Get Free Report)

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.

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