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

Owens & Minor (NYSE:OMI - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.42 earnings per share 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 the consensus estimate of $2.68 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm 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 Trading Down 1.8 %

Shares of NYSE:OMI traded down $0.22 during trading on Tuesday, reaching $11.78. 1,273,269 shares of the company traded hands, compared to its average volume of 834,960. The firm has a market capitalization of $908.24 million, a price-to-earnings ratio of -21.04, a P/E/G ratio of 0.43 and a beta of 0.41. Owens & Minor has a 52-week low of $11.42 and a 52-week high of $28.35. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.17. The business's fifty day moving average is $14.54 and its 200-day moving average is $16.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Owens & Minor from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday. Barclays dropped their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on 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 cut Owens & Minor from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Finally, Citigroup decreased their price target on Owens & Minor from $21.00 to $18.50 and set a "buy" rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Owens & Minor presently has an average rating of "Hold" and a consensus target price 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.