$2.44 Billion in Sales Expected for Owens & Minor, Inc. (NYSE:OMI) This Quarter

Wall Street analysts forecast that Owens & Minor, Inc. (NYSE:OMI) will post $2.44 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Owens & Minor’s earnings, with estimates ranging from $2.39 billion to $2.49 billion. Owens & Minor reported sales of $2.46 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.8%. The firm is expected to issue its next earnings report on Tuesday, August 6th.

On average, 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 $9.93 billion. For the next fiscal year, analysts forecast that the business will report 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 analysts that cover Owens & Minor.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 earnings per share (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 firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis.

OMI has been the topic of a number of research reports. ValuEngine upgraded Owens & Minor from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Bank of America restated a “neutral” rating and issued a $4.50 price objective (down from $7.00) on shares of Owens & Minor in a research note on Wednesday, April 10th. Finally, Zacks Investment Research upgraded Owens & Minor from a “sell” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $6.21.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Owens & Minor by 159,300.0% during the fourth quarter. FMR LLC now owns 4,782 shares of the company’s stock valued at $30,000 after buying an additional 4,779 shares during the period. First Trust Advisors LP bought a new stake in shares of Owens & Minor during the first quarter valued at about $56,000. First Allied Advisory Services Inc. bought a new stake in shares of Owens & Minor during the fourth quarter valued at about $71,000. Magnus Financial Group LLC bought a new stake in shares of Owens & Minor during the fourth quarter valued at about $80,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Owens & Minor during the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Shares of Owens & Minor stock opened at $3.03 on Wednesday. Owens & Minor has a 52-week low of $2.61 and a 52-week high of $19.16. The firm has a 50-day moving average price of $3.23. The company has a market cap of $192.58 million, a PE ratio of 2.63, a P/E/G ratio of 1.26 and a beta of 1.63. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 3.67.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Thursday, June 13th. Owens & Minor’s dividend payout ratio is currently 0.87%.

About Owens & Minor

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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