OMNOVA Solutions Downgraded by TheStreet to “Hold” (OMN)

OMNOVA Solutions (NYSE: OMN) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a report issued on Thursday, Stock Ratings Network reports.

The analysts wrote, “Omnova Solutions (OMN) has been downgraded by TheStreet Ratings from buy to hold. The company’s strongest point has been its a solid financial position based on a variety of debt and liquidity measures that we have looked at. At the same time, however, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and poor profit margins.”

Shares of OMNOVA Solutions (NYSE: OMN) opened at 7.46 on Thursday. OMNOVA Solutions has a one year low of $6.15 and a one year high of $8.99. The stock’s 50-day moving average is currently $8.04. The company has a market cap of $349.5 million and a P/E ratio of 12.41.

OMNOVA Solutions (NYSE: OMN) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.05. The company had revenue of $251.70 million for the quarter, compared to the consensus estimate of $258.25 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that OMNOVA Solutions will post $0.68 EPS for the current fiscal year.

Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of OMNOVA Solutions in a research note to investors on Wednesday, January 23rd. They now have a $9.00 price target on the stock, up previously from $8.50.

OMNOVA Solutions Inc. (NYSE: OMN), is a provider of emulsion polymers, specialty chemicals and decorative and functional surfaces for a variety of commercial, industrial and residential end uses.

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