OMNOVA Solutions Inc. (NYSE:OMN) – Equities research analysts at KeyCorp dropped their Q1 2018 earnings per share (EPS) estimates for OMNOVA Solutions in a research note issued on Thursday. KeyCorp analyst M. Sison now expects that the specialty chemicals company will earn $0.07 per share for the quarter, down from their previous estimate of $0.13. KeyCorp also issued estimates for OMNOVA Solutions’ Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.25 EPS and Q4 2018 earnings at $0.14 EPS.
Other analysts have also issued research reports about the company. Zacks Investment Research raised OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Thursday, December 7th. Jefferies Group reaffirmed a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research report on Thursday, October 12th. Finally, ValuEngine lowered OMNOVA Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.67.
OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). OMNOVA Solutions had a positive return on equity of 21.00% and a negative net margin of 11.20%. The company had revenue of $186.30 million for the quarter, compared to analysts’ expectations of $192.15 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue was down .4% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of OMN. Dimensional Fund Advisors LP increased its holdings in OMNOVA Solutions by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,209,084 shares of the specialty chemicals company’s stock valued at $21,538,000 after buying an additional 14,945 shares during the last quarter. Vanguard Group Inc. increased its holdings in OMNOVA Solutions by 4.3% in the second quarter. Vanguard Group Inc. now owns 1,814,048 shares of the specialty chemicals company’s stock valued at $17,686,000 after buying an additional 74,636 shares during the last quarter. State Street Corp increased its holdings in OMNOVA Solutions by 2.7% in the second quarter. State Street Corp now owns 848,085 shares of the specialty chemicals company’s stock valued at $8,275,000 after buying an additional 22,333 shares during the last quarter. Northern Trust Corp increased its holdings in OMNOVA Solutions by 8.2% in the second quarter. Northern Trust Corp now owns 705,492 shares of the specialty chemicals company’s stock valued at $6,878,000 after buying an additional 53,607 shares during the last quarter. Finally, Weber Alan W increased its holdings in OMNOVA Solutions by 16.6% in the third quarter. Weber Alan W now owns 441,900 shares of the specialty chemicals company’s stock valued at $4,839,000 after buying an additional 63,000 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.
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About OMNOVA Solutions
OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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