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

Owens & Minor (NYSE:OMI) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.45-1.55 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Citigroup upgraded shares of Owens & Minor from a “neutral” rating to a “buy” rating and lowered their target price for the company from $24.00 to $19.00 in a report on Friday, July 19th. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird lowered their target price on shares of Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, Barclays lowered their target price on shares of Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

Owens & Minor Trading Down 5.3 %

OMI stock traded down $0.71 during midday trading on Monday, reaching $12.65. 447,482 shares of the company’s stock traded hands, compared to its average volume of 824,872. The company has a market capitalization of $975.32 million, a P/E ratio of -22.02, a PEG ratio of 0.41 and a beta of 0.41. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. Owens & Minor has a fifty-two week low of $11.75 and a fifty-two week high of $28.35. The business has a 50-day moving average price of $14.62 and a two-hundred day moving average price of $16.33.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. Owens & Minor’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Equities research analysts forecast that Owens & Minor will post 1.57 EPS for the current fiscal 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.