Owens & Minor (NYSE:OMI) Updates FY24 Earnings Guidance

Owens & Minor (NYSE:OMI) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.45-1.55 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $10.6-10.8 billion, compared to the consensus revenue estimate of $10.71 billion. Owens & Minor also updated its FY 2024 guidance to 1.450-1.550 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OMI. Barclays decreased their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird decreased their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. Citigroup upgraded Owens & Minor from a “neutral” rating to a “buy” rating and cut their price objective for the company from $24.00 to $19.00 in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.71.

Owens & Minor Price Performance

Shares of OMI traded down $0.39 during trading hours on Tuesday, hitting $11.61. 27,238 shares of the stock were exchanged, compared to its average volume of 829,137. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.51 and a current ratio of 1.09. Owens & Minor has a 12-month low of $11.43 and a 12-month high of $28.35. The company has a market cap of $895.13 million, a price-to-earnings ratio of -21.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. The stock’s 50-day moving average price is $14.62 and its two-hundred day moving average price is $16.28.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts expect that Owens & Minor will post 1.57 earnings per share for the current year.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.