Owens & Minor (NYSE:OMI) Updates FY 2024 Earnings Guidance

Owens & Minor (NYSE:OMI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.450-1.550 for the period, compared to the consensus EPS estimate of 1.590. The company issued revenue guidance of $10.6 billion-$10.8 billion, compared to the consensus revenue estimate of $10.7 billion. Owens & Minor also updated its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Trading Up 15.3 %

NYSE OMI opened at $13.61 on Thursday. The company’s fifty day moving average price is $14.41 and its two-hundred day moving average price is $16.08. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -20.94, a price-to-earnings-growth ratio of 0.39 and a beta of 0.41. Owens & Minor has a 12 month low of $11.42 and a 12 month high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.51.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. Owens & Minor’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, research analysts predict that Owens & Minor will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays dropped their target price 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. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group lowered their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup cut their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company 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.