Analysts expect that OMNOVA Solutions Inc. (NYSE:OMN) will post earnings per share of $0.07 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for OMNOVA Solutions’ earnings, with estimates ranging from $0.06 to $0.07. OMNOVA Solutions posted earnings of $0.09 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 22.2%. The company is expected to announce its next earnings report on Wednesday, March 27th.
According to Zacks, analysts expect that OMNOVA Solutions will report full year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.55 to $0.75. For the next fiscal year, analysts anticipate that the company will post earnings of $0.84 per share, with EPS estimates ranging from $0.82 to $0.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover OMNOVA Solutions.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, January 31st. The specialty chemicals company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). The business had revenue of $191.30 million during the quarter, compared to analyst estimates of $191.98 million. OMNOVA Solutions had a net margin of 2.69% and a return on equity of 57.06%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in OMN. Nordea Investment Management AB boosted its position in shares of OMNOVA Solutions by 0.8% during the 4th quarter. Nordea Investment Management AB now owns 194,286 shares of the specialty chemicals company’s stock worth $1,424,000 after purchasing an additional 1,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in OMNOVA Solutions by 1.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,275 shares of the specialty chemicals company’s stock worth $1,072,000 after purchasing an additional 2,500 shares during the last quarter. Legal & General Group Plc increased its position in OMNOVA Solutions by 40.9% during the fourth quarter. Legal & General Group Plc now owns 8,760 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 2,541 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of OMNOVA Solutions by 1.9% in the third quarter. TIAA CREF Investment Management LLC now owns 144,327 shares of the specialty chemicals company’s stock worth $1,422,000 after acquiring an additional 2,624 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of OMNOVA Solutions by 2.2% in the fourth quarter. California Public Employees Retirement System now owns 141,862 shares of the specialty chemicals company’s stock valued at $1,040,000 after purchasing an additional 3,088 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.
OMN stock traded up $0.16 during mid-day trading on Tuesday, reaching $8.31. The company’s stock had a trading volume of 255,623 shares, compared to its average volume of 184,629. The company has a market cap of $374.91 million, a price-to-earnings ratio of 13.19, a PEG ratio of 1.27 and a beta of 2.20. The company has a current ratio of 1.89, a quick ratio of 1.30 and a debt-to-equity ratio of 5.53. OMNOVA Solutions has a fifty-two week low of $6.28 and a fifty-two week high of $11.90.
OMNOVA Solutions Company Profile
OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.
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