Zacks: Brokerages Anticipate Owens & Minor, Inc. (NYSE:OMI) Will Announce Quarterly Sales of $2.44 Billion

Brokerages expect Owens & Minor, Inc. (NYSE:OMI) to report $2.44 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Owens & Minor’s earnings. The highest sales estimate is $2.45 billion and the lowest is $2.43 billion. Owens & Minor posted sales of $2.46 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Owens & Minor will report full-year sales of $9.87 billion for the current year, with estimates ranging from $9.81 billion to $9.91 billion. For the next fiscal year, analysts anticipate that the company will report sales of $9.93 billion, with estimates ranging from $9.79 billion to $10.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Owens & Minor.

Owens & Minor (NYSE:OMI) last posted its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. Owens & Minor had a negative net margin of 2.88% and a positive return on equity of 5.53%. Owens & Minor’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS.

A number of research firms have issued reports on OMI. Zacks Investment Research lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. ValuEngine upgraded shares of Owens & Minor from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Owens & Minor presently has an average rating of “Hold” and a consensus price target of $6.13.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Owens & Minor by 66.9% in the 2nd quarter. Bank of Montreal Can now owns 8,066 shares of the company’s stock valued at $26,000 after buying an additional 3,233 shares in the last quarter. FMR LLC raised its holdings in shares of Owens & Minor by 159,300.0% during the 4th quarter. FMR LLC now owns 4,782 shares of the company’s stock valued at $30,000 after buying an additional 4,779 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Owens & Minor during the 2nd quarter valued at about $36,000. Stone Ridge Asset Management LLC purchased a new position in shares of Owens & Minor during the 2nd quarter valued at about $50,000. Finally, First Trust Advisors LP bought a new position in Owens & Minor during the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Owens & Minor stock traded up $0.08 during midday trading on Friday, reaching $4.83. 761,911 shares of the stock traded hands, compared to its average volume of 1,513,868. The company has a current ratio of 1.68, a quick ratio of 0.84 and a debt-to-equity ratio of 3.60. The stock has a fifty day moving average price of $3.23. The firm has a market cap of $299.06 million, a price-to-earnings ratio of 4.20, a price-to-earnings-growth ratio of 2.15 and a beta of 1.74. Owens & Minor has a fifty-two week low of $2.43 and a fifty-two week high of $18.40.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Friday, September 13th. Owens & Minor’s payout ratio is 0.87%.

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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