Owens & Minor (NYSE:OMI) Posts Earnings Results, Beats Estimates By $0.01 EPS

Owens & Minor (NYSE:OMI) released its earnings results on Monday. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01, Briefing.com reports. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Owens & Minor updated its FY 2024 guidance to 1.450-1.550 EPS and its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Price Performance

Shares of Owens & Minor stock traded down $0.81 during trading on Thursday, hitting $12.80. 348,519 shares of the company were exchanged, compared to its average volume of 835,304. The firm has a 50 day moving average price of $14.41 and a 200 day moving average price of $16.08. The stock has a market capitalization of $986.83 million, a price-to-earnings ratio of -20.94, a P/E/G ratio of 0.39 and a beta of 0.41. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor has a fifty-two week low of $11.42 and a fifty-two week high of $28.35.

Analyst Upgrades and Downgrades

OMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Barclays decreased their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird lowered their target price on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Citigroup cut their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Owens & Minor presently has a consensus rating of “Hold” and a consensus target price of $18.50.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.