KeyCorp Research Analysts Boost Earnings Estimates for OMNOVA Solutions Inc. (NYSE:OMN)

OMNOVA Solutions Inc. (NYSE:OMN) – KeyCorp increased their Q2 2019 earnings per share (EPS) estimates for OMNOVA Solutions in a research note issued to investors on Wednesday, March 27th, Zacks Investment Research reports. KeyCorp analyst M. Sison now expects that the specialty chemicals company will earn $0.23 per share for the quarter, up from their prior estimate of $0.17. KeyCorp also issued estimates for OMNOVA Solutions’ Q3 2019 earnings at $0.23 EPS and Q4 2019 earnings at $0.21 EPS.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, March 27th. The specialty chemicals company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.12). The firm had revenue of $168.90 million during the quarter, compared to the consensus estimate of $185.00 million. OMNOVA Solutions had a net margin of 1.16% and a return on equity of 41.90%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

OMN has been the subject of a number of other research reports. Zacks Investment Research lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. TheStreet lowered OMNOVA Solutions from a “c-” rating to a “d+” rating in a report on Thursday, December 27th.

OMN stock traded down $0.12 during mid-day trading on Friday, reaching $7.56. 89,507 shares of the company traded hands, compared to its average volume of 225,007. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 5.56. The firm has a market capitalization of $339.03 million, a PE ratio of 12.00, a PEG ratio of 1.19 and a beta of 2.14. OMNOVA Solutions has a 52-week low of $6.28 and a 52-week high of $11.80.

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of OMNOVA Solutions by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 511,232 shares of the specialty chemicals company’s stock worth $3,747,000 after acquiring an additional 80,678 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of OMNOVA Solutions by 0.8% in the 4th quarter. Nordea Investment Management AB now owns 194,286 shares of the specialty chemicals company’s stock valued at $1,424,000 after purchasing an additional 1,600 shares in the last quarter. Millennium Management LLC boosted its stake in shares of OMNOVA Solutions by 7.3% in the 4th quarter. Millennium Management LLC now owns 166,537 shares of the specialty chemicals company’s stock valued at $1,221,000 after purchasing an additional 11,390 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of OMNOVA Solutions by 40.9% during the 4th quarter. Legal & General Group Plc now owns 8,760 shares of the specialty chemicals company’s stock valued at $64,000 after purchasing an additional 2,541 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of OMNOVA Solutions by 2.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 567,875 shares of the specialty chemicals company’s stock valued at $4,163,000 after purchasing an additional 11,079 shares during the last quarter. 91.32% of the stock is owned by institutional investors.

OMNOVA Solutions Company Profile

OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

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Earnings History and Estimates for OMNOVA Solutions (NYSE:OMN)

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