OMNOVA Solutions Shares Down 3.4% on Disappointing Earnings (OMN)
OMNOVA Solutions (NYSE:OMN) dropped 3.4% on Wednesday following a dissappointing earnings announcement, American Banking News reports. The company traded as low as $8.88 and last traded at $9.47, with a volume of 158,066 shares trading hands. The stock had previously closed at $9.80.
The company reported $0.09 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.19 by $0.10. The company had revenue of $266.40 million for the quarter, compared to the consensus estimate of $282.90 million. During the same quarter last year, the company posted $0.16 earnings per share. OMNOVA Solutions’s revenue was down 1.6% compared to the same quarter last year.
The stock has a 50-day moving average of $9.37 and a 200-day moving average of $9.38. The company has a market cap of $448.6 million and a P/E ratio of 21.73.
OMNOVA Solutions Inc (NYSE:OMN) is a provider of emulsion polymers, specialty chemicals and decorative and functional surfaces for a variety of commercial, industrial and residential end uses.
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