Owens & Minor, Inc. (NYSE:OMI) Forecasted to Earn Q3 2017 Earnings of $0.50 Per Share
Owens & Minor, Inc. (NYSE:OMI) – Equities researchers at Jefferies Group upped their Q3 2017 earnings estimates for Owens & Minor in a note issued to investors on Thursday. Jefferies Group analyst S. Dodge now anticipates that the company will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.44. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock. Jefferies Group also issued estimates for Owens & Minor’s Q4 2017 earnings at $0.54 EPS and FY2018 earnings at $2.20 EPS.
Several other research analysts have also commented on the company. BidaskClub lowered Owens & Minor from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research raised Owens & Minor from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday. UBS AG reaffirmed a “sell” rating and set a $29.50 price target (down previously from $30.50) on shares of Owens & Minor in a research report on Thursday. Finally, TheStreet lowered Owens & Minor from a “b” rating to a “c+” rating in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Owens & Minor currently has a consensus rating of “Hold” and a consensus price target of $32.88.
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Shares of Owens & Minor (NYSE:OMI) opened at 28.39 on Monday. Owens & Minor has a 12 month low of $28.31 and a 12 month high of $37.02. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 18.06 and a beta of 1.01. The company has a 50-day moving average price of $31.96 and a 200-day moving average price of $33.76.
Owens & Minor (NYSE:OMI) last issued its earnings results on Tuesday, August 1st. The company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.38 billion. Owens & Minor had a return on equity of 11.64% and a net margin of 1.02%. Owens & Minor’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMI. Boston Private Wealth LLC raised its position in Owens & Minor by 12.8% in the second quarter. Boston Private Wealth LLC now owns 21,191 shares of the company’s stock worth $682,000 after buying an additional 2,407 shares during the last quarter. Blair William & Co. IL raised its position in Owens & Minor by 0.5% in the second quarter. Blair William & Co. IL now owns 20,638 shares of the company’s stock worth $664,000 after buying an additional 97 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Owens & Minor by 136.1% in the second quarter. BNP Paribas Arbitrage SA now owns 43,819 shares of the company’s stock worth $1,411,000 after buying an additional 25,263 shares during the last quarter. Legal & General Group Plc raised its position in Owens & Minor by 5.0% in the second quarter. Legal & General Group Plc now owns 102,092 shares of the company’s stock worth $3,286,000 after buying an additional 4,846 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Owens & Minor by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,097,683 shares of the company’s stock worth $35,334,000 after buying an additional 5,844 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.
In other Owens & Minor news, insider Michael Wayne Lowry sold 1,300 shares of Owens & Minor stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $32.19, for a total transaction of $41,847.00. Following the transaction, the insider now owns 10,498 shares of the company’s stock, valued at $337,930.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rony Camil Kordahi sold 2,231 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $32.07, for a total value of $71,548.17. Following the completion of the transaction, the executive vice president now directly owns 27,555 shares in the company, valued at approximately $883,688.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,848 shares of company stock worth $413,962. 1.68% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, September 14th. Owens & Minor’s dividend payout ratio (DPR) is 65.19%.
Owens & Minor Company Profile
Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).
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