Owens & Minor (NYSE:OMI) Issues FY24 Earnings Guidance

Owens & Minor (NYSE:OMI) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.45-1.55 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $10.6-10.8 billion, compared to the consensus revenue estimate of $10.71 billion. Owens & Minor also updated its FY 2024 guidance to 1.450-1.550 EPS.

Owens & Minor Stock Performance

Owens & Minor stock opened at $13.36 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17. The stock has a market cap of $1.03 billion, a PE ratio of -23.86, a P/E/G ratio of 0.41 and a beta of 0.41. Owens & Minor has a 12-month low of $12.36 and a 12-month high of $28.35. The business’s 50-day moving average price is $14.62 and its two-hundred day moving average price is $16.33.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that Owens & Minor will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays cut their price target on Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 21st. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Robert W. Baird cut their target price on shares of Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and decreased their price target for the company from $24.00 to $19.00 in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

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.