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Owens & Minor, Inc. (NYSE:OMI) Expected to Announce Quarterly Sales of $2.07 Billion

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Analysts expect Owens & Minor, Inc. (NYSE:OMI) to announce $2.07 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Owens & Minor's earnings. The lowest sales estimate is $2.02 billion and the highest is $2.11 billion. Owens & Minor posted sales of $2.40 billion in the same quarter last year, which suggests a negative year over year growth rate of 13.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, November 4th.

According to Zacks, analysts expect that Owens & Minor will report full year sales of $8.17 billion for the current year, with estimates ranging from $8.10 billion to $8.24 billion. For the next year, analysts expect that the firm will report sales of $8.88 billion, with estimates ranging from $8.71 billion to $9.05 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that cover Owens & Minor.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.19 by $0.01. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.92 billion. Owens & Minor had a positive return on equity of 9.31% and a negative net margin of 1.23%. The business's quarterly revenue was down 23.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS.

A number of brokerages recently issued reports on OMI. Bank of America upgraded Owens & Minor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $8.00 to $12.00 in a research note on Tuesday, July 21st. ValuEngine downgraded Owens & Minor from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. CSFB boosted their price objective on Owens & Minor from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, September 25th. Credit Suisse Group boosted their price objective on Owens & Minor from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, September 25th. Finally, BofA Securities upgraded Owens & Minor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $8.00 to $12.00 in a research note on Tuesday, July 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of "Hold" and a consensus price target of $18.19.

Shares of NYSE:OMI opened at $25.86 on Friday. The stock has a 50 day moving average of $19.40 and a 200 day moving average of $11.88. The company has a market cap of $1.65 billion, a PE ratio of -14.95, a price-to-earnings-growth ratio of 0.44 and a beta of 0.59. The company has a current ratio of 1.63, a quick ratio of 0.76 and a debt-to-equity ratio of 3.21. Owens & Minor has a 12-month low of $3.63 and a 12-month high of $27.75.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.002 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.01 dividend on an annualized basis and a yield of 0.03%. Owens & Minor's dividend payout ratio is presently 1.79%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its holdings in shares of Owens & Minor by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 59,432 shares of the company's stock worth $1,492,000 after acquiring an additional 1,530 shares in the last quarter. American International Group Inc. raised its holdings in shares of Owens & Minor by 3.7% during the 2nd quarter. American International Group Inc. now owns 44,100 shares of the company's stock worth $336,000 after acquiring an additional 1,584 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Owens & Minor by 14.9% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 12,638 shares of the company's stock worth $96,000 after acquiring an additional 1,638 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Owens & Minor by 23.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 8,901 shares of the company's stock worth $68,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Globeflex Capital L P raised its holdings in shares of Owens & Minor by 1.1% during the 2nd quarter. Globeflex Capital L P now owns 195,667 shares of the company's stock worth $1,491,000 after acquiring an additional 2,105 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

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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7 Stocks That Could Provide a Year-End Rally

It’s rough in the markets right now. Underlying the volatility is uncertainty. The VIX Index (INDEXCBOE: VIX) otherwise known as the Fear Index is unofficial, but an eerily accurate predictor of market sentiment. And the VIX is up 30% in the last month.

Is this uncertainty due to concerns over additional lockdown measures? Is it about the lack of additional coronavirus stimulus? Is the market reacting to a surge in jobless claims? Or is this just the somewhat normal volatility that comes in an election year that promises to be like none in American history.

The answer is all of the above and then some. But does that mean you should stay out of equities? I don’t think so. Where are you going to go? The Fed has promised interest rates are going nowhere fast. And that bit of news is weighing down the bond market.

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The pandemic brought the entire market down. But once investors took a breath they found bargains. And if you had the courage to put your money to work in those stocks, you’ve been rewarded.

Times like these call for the same type of courage. And that’s why we’ve put together this special presentation with seven stocks that look ready to surprise investors with nice end-of-year gains.

View the "7 Stocks That Could Provide a Year-End Rally".

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