Owens & Minor, Inc. (NYSE:OMI) Expected to Announce Quarterly Sales of $2.49 Billion

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Brokerages expect that Owens & Minor, Inc. (NYSE:OMI) will report sales of $2.49 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Owens & Minor’s earnings, with the highest sales estimate coming in at $2.52 billion and the lowest estimate coming in at $2.47 billion. Owens & Minor reported sales of $2.54 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 18th.

On average, analysts expect that Owens & Minor will report full year sales of $9.84 billion for the current fiscal year, with estimates ranging from $9.81 billion to $9.86 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.83 billion, with estimates ranging from $9.76 billion to $9.91 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Owens & Minor.

Owens & Minor (NYSE:OMI) last announced its earnings results on Wednesday, November 6th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Owens & Minor had a positive return on equity of 4.89% and a negative net margin of 2.88%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Owens & Minor from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine lowered shares of Owens & Minor from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America lifted their target price on shares of Owens & Minor from $4.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.90.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blackstone Group Inc acquired a new stake in Owens & Minor during the 2nd quarter worth $8,287,000. Invesco Ltd. lifted its holdings in Owens & Minor by 147.3% during the 2nd quarter. Invesco Ltd. now owns 2,404,873 shares of the company’s stock worth $7,695,000 after buying an additional 1,432,480 shares during the last quarter. Morgan Stanley lifted its holdings in Owens & Minor by 21.9% during the 2nd quarter. Morgan Stanley now owns 1,803,457 shares of the company’s stock worth $5,771,000 after buying an additional 324,480 shares during the last quarter. Factorial Partners LLC boosted its position in shares of Owens & Minor by 10.2% during the 2nd quarter. Factorial Partners LLC now owns 65,000 shares of the company’s stock worth $208,000 after acquiring an additional 6,000 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Owens & Minor by 1.7% during the 2nd quarter. BlackRock Inc. now owns 9,353,164 shares of the company’s stock worth $29,931,000 after acquiring an additional 153,546 shares in the last quarter. 88.15% of the stock is currently owned by hedge funds and other institutional investors.

NYSE OMI traded up $0.03 during trading on Monday, hitting $7.01. The company’s stock had a trading volume of 58,258 shares, compared to its average volume of 1,565,050. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.74 and a quick ratio of 0.85. The company has a market cap of $416.08 million, a PE ratio of 6.10 and a beta of 1.43. The business’s 50 day simple moving average is $6.79 and its 200-day simple moving average is $4.84. Owens & Minor has a fifty-two week low of $2.43 and a fifty-two week high of $8.43.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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