OMNOVA Solutions Inc. (NYSE:OMN) Expected to Post Earnings of $0.26 Per Share

Wall Street brokerages expect that OMNOVA Solutions Inc. (NYSE:OMN) will report earnings per share of $0.26 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for OMNOVA Solutions’ earnings. OMNOVA Solutions posted earnings per share of $0.18 in the same quarter last year, which suggests a positive year over year growth rate of 44.4%. The firm is scheduled to report its next quarterly earnings report on Wednesday, September 25th.

According to Zacks, analysts expect that OMNOVA Solutions will report full year earnings of $0.53 per share for the current year, with EPS estimates ranging from $0.40 to $0.65. For the next year, analysts expect that the business will report earnings of $0.70 per share, with EPS estimates ranging from $0.60 to $0.80. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow OMNOVA Solutions.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, July 3rd. The specialty chemicals company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.10). The business had revenue of $205.70 million during the quarter, compared to the consensus estimate of $210.55 million. OMNOVA Solutions had a return on equity of 33.50% and a net margin of 0.79%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share.

Several analysts have weighed in on the stock. Deutsche Bank reissued a “hold” rating and issued a GBX 350 ($4.57) price target on shares of in a research note on Friday, July 5th. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Sidoti downgraded shares of OMNOVA Solutions from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.96.

OMNOVA Solutions stock traded up $0.02 during mid-day trading on Friday, hitting $10.00. The company’s stock had a trading volume of 285,274 shares, compared to its average volume of 1,206,126. The company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 5.36. The stock has a market cap of $447.55 million, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.90 and a beta of 2.19. The business has a 50 day moving average of $7.23. OMNOVA Solutions has a 12 month low of $5.48 and a 12 month high of $10.70.

Several large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of OMNOVA Solutions by 0.8% during the fourth 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. White Pine Capital LLC raised its stake in shares of OMNOVA Solutions by 1.2% during the first quarter. White Pine Capital LLC now owns 161,975 shares of the specialty chemicals company’s stock valued at $1,137,000 after acquiring an additional 1,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of OMNOVA Solutions by 1.7% during the fourth 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 raised its stake in shares of OMNOVA Solutions by 40.9% during the fourth 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. Finally, California Public Employees Retirement System raised its stake in shares of OMNOVA Solutions by 2.2% during the fourth quarter. California Public Employees Retirement System now owns 141,862 shares of the specialty chemicals company’s stock valued at $1,040,000 after acquiring an additional 3,088 shares during the last quarter. 91.91% of the stock is owned by hedge funds and other 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.

Featured Article: What is a Special Dividend?

Get a free copy of the Zacks research report on OMNOVA Solutions (OMN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for OMNOVA Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OMNOVA Solutions and related companies with MarketBeat.com's FREE daily email newsletter.