Omnova Solutions Inc. (OMN) Scheduled to Post Earnings on Thursday
Omnova Solutions Inc. (NYSE:OMN) will be releasing its Q316 earnings data on Thursday, September 22nd. Analysts expect Omnova Solutions to post earnings of $0.17 per share and revenue of $195.10 million for the quarter.
Omnova Solutions (NYSE:OMN) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $202 million for the quarter, compared to analyst estimates of $205.40 million. Omnova Solutions had a negative net margin of 1.57% and a positive return on equity of 18.11%. Omnova Solutions’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. On average, analysts expect Omnova Solutions to post $0.57 EPS for the current fiscal year and $0.73 EPS for the next fiscal year.
Omnova Solutions Inc. (NYSE:OMN) opened at 9.76 on Wednesday. The stock’s market capitalization is $439.35 million. Omnova Solutions Inc. has a one year low of $4.37 and a one year high of $10.42. The company’s 50-day moving average is $9.59 and its 200 day moving average is $7.68.
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In related news, SVP Douglas E. Wenger sold 8,671 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $9.73, for a total transaction of $84,368.83. Following the completion of the sale, the senior vice president now owns 168,408 shares of the company’s stock, valued at approximately $1,638,609.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.76% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. purchased a new stake in Omnova Solutions during the second quarter valued at $109,000. A.R.T. Advisors LLC purchased a new stake in Omnova Solutions during the second quarter valued at $275,000. Menta Capital LLC boosted its stake in Omnova Solutions by 54.9% in the second quarter. Menta Capital LLC now owns 138,272 shares of the company’s stock valued at $1,002,000 after buying an additional 49,023 shares during the period. KCG Holdings Inc. purchased a new stake in Omnova Solutions during the second quarter valued at $139,000. Finally, Piermont Capital Management Inc. purchased a new stake in Omnova Solutions during the second quarter valued at $1,933,000. 85.19% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on OMN. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Friday, July 1st. Finally, TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd.
Omnova Solutions Company Profile
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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