Analysts Adjust Predictions for Owens & Minor's Earnings Ahead
Owens & Minor Earnings Release Upcoming
Owens & Minor, Inc. (OMI) is gearing up to unveil its earnings results for the second quarter, creating buzz among investors and market analysts. This report is set to be released before the opening bell on Monday.
Analyst Expectations for Q2
Financial analysts have their eye on the Glen Allen-based company, anticipating earnings per share of 28 cents for the quarter. This represents a decline from the previous year's earnings of 36 cents per share. Interestingly, while earnings may dip, Owens & Minor is projected to report quarterly revenues of $2.73 billion, an increase from the $2.67 billion reported at the same time last year.
Recent Developments Affecting the Company
In a notable turn of events, Owens & Minor announced its decision to terminate the acquisition of Rotech Healthcare. This strategic move has implications for the company’s operational focus and may influence upcoming earnings.
Stock Performance Insights
As anticipation builds ahead of the earnings report, the stock of Owens & Minor has been showing positive momentum, rising 12.4% to reach a closing price of $7.09 recently. Investors are keenly watching the stock as it reacts to the upcoming announcements.
Analyst Ratings and Predictions
Market experts are weighing in on Owens & Minor's stock with varying insights. For instance, Baird analyst Eric Coldwell recently maintained a Neutral rating while increasing the price target for the stock from $9 to $10, showcasing optimism about the company’s future.
- JP Morgan analyst Michael Minchak adopted a more cautious stance, retaining an Underweight rating and adjusting the price target down from $14 to $10, reflecting concerns about the company’s near-term performance.
- Conversely, UBS analyst Kevin Caliendo continues to maintain a Buy rating but revised the price target from $25 to $13, indicating a mixed perspective among analysts regarding the company’s outlook.
What Analysts Think About OMI Stock
As the earnings report date approaches, potential investors are advised to take note of various analyst predictions. Each analyst’s insights are contributing to the overall picture for Owens & Minor, and understanding their perspectives can be beneficial for making informed investment choices.
Frequently Asked Questions
What are Owens & Minor's expected earnings for Q2?
Analysts expect the company to report earnings of 28 cents per share for the second quarter.
How has Owens & Minor's stock performed recently?
The stock has seen a rise of 12.4%, recently closing at $7.09.
What recent announcement has Owens & Minor made?
The company announced the termination of the acquisition of Rotech Healthcare.
What are analysts' sentiments on Owens & Minor stock?
Analysts have mixed opinions; some see potential for growth, while others express caution regarding future performance.
When will Owens & Minor release its earnings report?
The earnings report is scheduled to be released before the market opens on Monday.
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