Omnova Solutions Inc. (NYSE:OMN) will release its Q316 earnings data on Thursday, September 22nd. Analysts expect Omnova Solutions to post earnings of $0.17 per share and revenue of $195.10 million for the quarter.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $202 million for the quarter, compared to analysts’ expectations of $205.40 million. Omnova Solutions had a positive return on equity of 18.11% and a negative net margin of 1.57%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, analysts expect Omnova Solutions to post $0.57 EPS for the current fiscal year and $0.73 EPS for the next fiscal year.
Omnova Solutions Inc. (NYSE:OMN) opened at 9.76 on Wednesday. The company has a 50-day moving average price of $9.59 and a 200 day moving average price of $7.68. Omnova Solutions Inc. has a 52-week low of $4.37 and a 52-week high of $10.42. The company’s market capitalization is $439.35 million.
In other news, SVP Douglas E. Wenger sold 8,671 shares of Omnova Solutions stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $9.73, for a total transaction of $84,368.83. Following the completion of the sale, the senior vice president now owns 168,408 shares of the company’s stock, valued at $1,638,609.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.76% of the company’s stock.
Several hedge funds have recently bought and sold shares of OMN. Paloma Partners Management Co bought a new stake in Omnova Solutions during the second quarter valued at $100,000. Panagora Asset Management Inc. bought a new stake in Omnova Solutions during the second quarter valued at $109,000. Cubist Systematic Strategies LLC bought a new stake in Omnova Solutions during the second quarter valued at $117,000. KCG Holdings Inc. bought a new stake in Omnova Solutions during the second quarter valued at $139,000. Finally, BlackRock Inc. increased its stake in Omnova Solutions by 625.8% in the second quarter. BlackRock Inc. now owns 20,031 shares of the company’s stock valued at $145,000 after buying an additional 17,271 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.
OMN has been the subject of several analyst reports. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Friday, July 1st. Finally, TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd.
Omnova Solutions Company Profile
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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