In the latest trading session, Owens & Minor (OMI) closed at $6.66, marking a -0.89% move from the previous day. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Heading into today, shares of the medical supply distributor had gained 29.23% over the past month, outpacing the Medical sector's gain of 1.82% and the S&P 500's gain of 3.63% in that time.
OMI will be looking to display strength as it nears its next earnings release, which is expected to be March 4, 2020. On that day, OMI is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 144.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.49 billion, down 1.96% from the year-ago period.
Investors should also note any recent changes to analyst estimates for OMI. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.93% higher. OMI is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that OMI has a Forward P/E ratio of 9.46 right now. Its industry sports an average Forward P/E of 27.86, so we one might conclude that OMI is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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