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

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

Shares of NYSE:OMI traded down $0.31 during trading on Tuesday, reaching $11.69. The company had a trading volume of 681,094 shares, compared to its average volume of 832,193. The company has a fifty day moving average of $14.54 and a two-hundred day moving average of $16.19. 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 stock has a market capitalization of $901.30 million, a P/E ratio of -20.80, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. Owens & Minor has a 12 month low of $11.42 and a 12 month high of $28.35.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OMI shares. Robert W. Baird dropped their price objective on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their price target 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. UBS Group cut their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays decreased 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. Finally, Citigroup cut their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday. Two equities 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 stock. According to data from MarketBeat.com, Owens & Minor has an average rating of “Hold” and a consensus price target 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.