Owens & Minor (NYSE:OMI) Releases Quarterly Earnings Results

Owens & Minor (NYSE:OMI) released its quarterly earnings results on Monday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01, Briefing.com reports. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. 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 Stock Performance

OMI traded down $0.24 during trading on Tuesday, reaching $11.76. 648,605 shares of the company’s stock were exchanged, compared to its average volume of 832,041. Owens & Minor has a 1 year low of $11.42 and a 1 year high of $28.35. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. The stock has a market capitalization of $906.70 million, a P/E ratio of -20.80, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. The company’s fifty day simple moving average is $14.54 and its 200-day simple moving average is $16.19.

Wall Street Analysts Forecast Growth

OMI has been the subject of several analyst reports. Citigroup decreased their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. UBS Group decreased their price target 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. Barclays decreased their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Robert W. Baird decreased their price objective 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. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.50.

About Owens & Minor

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.