Owens & Minor Trading Down 4.3% Following Weak Earnings (OMI)
Owens & Minor (NYSE:OMI)’s share price was down 4.3% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings, Analyst Ratings News reports. The company traded as low as $31.92 and last traded at $33.47, with a volume of 1,535,992 shares changing hands. The stock had previously closed at $34.96.
The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%.
A number of research firms have recently commented on OMI. Analysts at Robert W. Baird cut their price target on shares of Owens & Minor from $37.00 to $35.00 in a research note on Tuesday. Separately, analysts at Jefferies Group initiated coverage on shares of Owens & Minor in a research note on Wednesday, July 2nd. They set a “hold” rating and a $36.00 price target on the stock. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Owens & Minor in a research note on Monday, June 16th. They set a “market perform” rating on the stock.
The stock’s 50-day moving average is $34.64 and its 200-day moving average is $34.65. The company has a market cap of $2.115 billion and a P/E ratio of 19.95.
Owens & Minor, Inc is a provider of third-party logistics (NYSE:OMI) services to manufacturers and suppliers of healthcare and life-science products.
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