Owens & Minor, Inc. (OMI) Expected to Announce Quarterly Sales of $2.39 Billion
Equities research analysts predict that Owens & Minor, Inc. (NYSE:OMI) will post $2.39 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Owens & Minor’s earnings, with the lowest sales estimate coming in at $2.33 billion and the highest estimate coming in at $2.50 billion. Owens & Minor reported sales of $2.42 billion in the same quarter last year, which indicates a negative year over year growth rate of 1.2%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Owens & Minor will report full-year sales of $2.39 billion for the current year, with estimates ranging from $9.40 billion to $9.68 billion. For the next financial year, analysts forecast that the business will report sales of $10.11 billion per share, with estimates ranging from $9.83 billion to $10.56 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Owens & Minor.
Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.38 billion. Owens & Minor had a return on equity of 11.64% and a net margin of 1.02%. Owens & Minor’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share.
A number of research firms recently weighed in on OMI. Robert W. Baird raised Owens & Minor from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price target (down from $36.00) on shares of Owens & Minor in a research note on Wednesday, August 9th. UBS AG reaffirmed a “sell” rating and set a $29.50 price target (down from $30.50) on shares of Owens & Minor in a research note on Wednesday, August 9th. BidaskClub downgraded Owens & Minor from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, 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 note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.10.
Institutional investors and hedge funds have recently modified their holdings of the business. Meadow Creek Investment Management LLC increased its holdings in Owens & Minor by 23.0% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,300 shares of the company’s stock worth $114,000 after purchasing an additional 616 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Owens & Minor by 62.7% during the 2nd quarter. Flinton Capital Management LLC now owns 3,904 shares of the company’s stock worth $126,000 after purchasing an additional 1,504 shares in the last quarter. Creative Planning increased its holdings in Owens & Minor by 2.9% during the 2nd quarter. Creative Planning now owns 4,021 shares of the company’s stock worth $129,000 after purchasing an additional 113 shares in the last quarter. LS Investment Advisors LLC increased its holdings in Owens & Minor by 17.1% during the 2nd quarter. LS Investment Advisors LLC now owns 4,987 shares of the company’s stock worth $161,000 after purchasing an additional 727 shares in the last quarter. Finally, Legg Mason Asset Management Japan Co. Ltd. bought a new stake in Owens & Minor during the 2nd quarter worth approximately $171,000. 97.76% of the stock is owned by hedge funds and other institutional investors.
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Owens & Minor (NYSE:OMI) opened at 28.32 on Friday. The company’s 50 day moving average price is $28.30 and its 200-day moving average price is $31.85. The company has a market capitalization of $1.73 billion, a P/E ratio of 18.02 and a beta of 1.04. Owens & Minor has a 12-month low of $26.91 and a 12-month high of $37.02.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 14th. Owens & Minor’s dividend payout ratio is currently 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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