Research Analysts Set Expectations for OMNOVA Solutions Inc.’s Q2 2019 Earnings (NYSE:OMN)

OMNOVA Solutions Inc. (NYSE:OMN) – Equities research analysts at Jefferies Financial Group lowered their Q2 2019 earnings estimates for shares of OMNOVA Solutions in a research report issued to clients and investors on Thursday, March 28th, according to Zacks Investment Research. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.24. Jefferies Financial Group also issued estimates for OMNOVA Solutions’ Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.65 EPS, FY2020 earnings at $0.80 EPS and FY2021 earnings at $0.95 EPS.

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

A number of other brokerages also recently weighed in on OMN. TheStreet raised shares of OMNOVA Solutions from a “d+” rating to a “c+” rating in a report on Thursday, February 7th. Zacks Investment Research raised shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th.

NYSE OMN traded down $0.20 on Monday, reaching $7.30. The company’s stock had a trading volume of 144,632 shares, compared to its average volume of 173,395. OMNOVA Solutions has a twelve month low of $6.28 and a twelve month high of $11.45. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 5.56. The company has a market capitalization of $339.07 million, a price-to-earnings ratio of 11.63, a PEG ratio of 1.19 and a beta of 2.14.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in 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 acquiring an additional 1,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in OMNOVA Solutions by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,275 shares of the specialty chemicals company’s stock valued at $1,072,000 after acquiring an additional 2,500 shares during the last quarter. Legal & General Group Plc lifted its holdings in OMNOVA Solutions by 40.9% in the 4th quarter. Legal & General Group Plc now owns 8,760 shares of the specialty chemicals company’s stock valued at $64,000 after acquiring an additional 2,541 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in OMNOVA Solutions by 1.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 144,327 shares of the specialty chemicals company’s stock worth $1,422,000 after buying an additional 2,624 shares during the period. Finally, California Public Employees Retirement System raised its holdings in OMNOVA Solutions by 2.2% during the 4th quarter. California Public Employees Retirement System now owns 141,862 shares of the specialty chemicals company’s stock worth $1,040,000 after buying an additional 3,088 shares during the period. 91.32% of the stock is owned by institutional investors.

About OMNOVA Solutions

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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