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

Owens & Minor (NYSE:OMI) announced its quarterly earnings data on Monday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01, Briefing.com reports. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. 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 Stock Performance

Shares of Owens & Minor stock opened at $11.78 on Wednesday. The firm has a market cap of $908.24 million, a price-to-earnings ratio of -21.04, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. The stock’s 50-day moving average is $14.46 and its 200-day moving average is $16.10. Owens & Minor has a one year low of $11.42 and a one year high of $28.35. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51.

Analysts Set New Price Targets

OMI has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird reduced their target price on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday. UBS Group reduced their target price on Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Citigroup reduced their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and an average price target of $18.50.

Owens & Minor Company Profile

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.