Zacks: Analysts Expect Owens & Minor, Inc. (OMI) Will Announce Quarterly Sales of $2.44 Billion

Equities research analysts forecast that Owens & Minor, Inc. (NYSE:OMI) will announce $2.44 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Owens & Minor’s earnings, with the lowest sales estimate coming in at $2.39 billion and the highest estimate coming in at $2.49 billion. Owens & Minor posted sales of $2.46 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The firm is expected to issue its next earnings results on Tuesday, August 6th.

On average, analysts expect that Owens & Minor will report full year sales of $9.87 billion for the current fiscal year, with estimates ranging from $9.81 billion to $9.93 billion. For the next fiscal year, analysts forecast that the firm will post sales of $9.89 billion, with estimates ranging from $9.79 billion to $9.97 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Owens & Minor.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Owens & Minor had a negative net margin of 4.63% and a positive return on equity of 6.92%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the business earned $0.43 EPS. Owens & Minor’s revenue was up 3.7% compared to the same quarter last year.

A number of research analysts recently commented on OMI shares. ValuEngine upgraded shares of Owens & Minor from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. UBS Group started coverage on shares of Owens & Minor in a research note on Thursday, January 17th. They set a “neutral” rating and a $8.00 price objective on the stock. Zacks Investment Research lowered shares of Owens & Minor from a “buy” rating to a “sell” rating in a research note on Friday, May 10th. Barclays reiterated a “sell” rating and set a $5.00 price objective on shares of Owens & Minor in a research note on Thursday, February 21st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $7.00 price objective on shares of Owens & Minor in a research note on Thursday, February 21st. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.21.

Shares of NYSE OMI traded down $0.09 during mid-day trading on Friday, reaching $3.68. 1,192,445 shares of the company traded hands, compared to its average volume of 1,682,372. Owens & Minor has a fifty-two week low of $3.26 and a fifty-two week high of $19.16. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.75 and a quick ratio of 0.89. The firm has a market capitalization of $239.17 million, a PE ratio of 3.20, a P/E/G ratio of 1.93 and a beta of 1.57.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, June 13th. Owens & Minor’s payout ratio is 0.87%.

A number of large investors have recently modified their holdings of OMI. Bank of New York Mellon Corp boosted its holdings in Owens & Minor by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 1,431,700 shares of the company’s stock worth $23,651,000 after buying an additional 52,294 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Owens & Minor by 54.9% during the third quarter. MetLife Investment Advisors LLC now owns 44,110 shares of the company’s stock worth $729,000 after buying an additional 15,635 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Owens & Minor by 29.9% during the third quarter. Teachers Advisors LLC now owns 152,468 shares of the company’s stock worth $2,519,000 after buying an additional 35,108 shares in the last quarter. Legal & General Group Plc boosted its holdings in Owens & Minor by 8.4% during the third quarter. Legal & General Group Plc now owns 205,054 shares of the company’s stock worth $3,392,000 after buying an additional 15,863 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Owens & Minor by 23.7% during the third quarter. Morgan Stanley now owns 1,372,424 shares of the company’s stock worth $22,673,000 after buying an additional 262,792 shares in the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

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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