Zacks: Analysts Anticipate Omega Healthcare Investors, Inc. (NYSE:OHI) Will Post Quarterly Sales of $266.72 Million

Wall Street brokerages expect that Omega Healthcare Investors, Inc. (NYSE:OHI) will post sales of $266.72 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Omega Healthcare Investors’ earnings. The highest sales estimate is $271.47 million and the lowest is $255.70 million. Omega Healthcare Investors reported sales of $256.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The firm is scheduled to issue its next earnings results after the market closes on Monday, August 2nd.

On average, analysts expect that Omega Healthcare Investors will report full year sales of $1.07 billion for the current financial year, with estimates ranging from $1.04 billion to $1.09 billion. For the next fiscal year, analysts expect that the business will post sales of $1.10 billion, with estimates ranging from $1.05 billion to $1.12 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Omega Healthcare Investors.

Omega Healthcare Investors (NYSE:OHI) last announced its earnings results on Sunday, May 2nd. The real estate investment trust reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.24. Omega Healthcare Investors had a return on equity of 5.63% and a net margin of 25.12%. The firm had revenue of $234.83 million for the quarter, compared to the consensus estimate of $225.64 million. During the same period in the previous year, the business earned $0.79 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.

A number of brokerages recently commented on OHI. TheStreet raised Omega Healthcare Investors from a “c+” rating to a “b-” rating in a research report on Monday, April 5th. Mizuho reaffirmed a “neutral” rating and issued a $39.00 target price on shares of Omega Healthcare Investors in a research report on Wednesday, July 14th. Wolfe Research began coverage on Omega Healthcare Investors in a research report on Monday, June 14th. They issued a “peer perform” rating and a $43.00 target price for the company. JMP Securities reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Omega Healthcare Investors in a research report on Monday, May 10th. Finally, Scotiabank lowered Omega Healthcare Investors from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $41.00 to $39.00 in a research report on Thursday, June 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.62.

Shares of OHI stock traded down $0.45 during mid-day trading on Monday, hitting $36.99. The company’s stock had a trading volume of 54,919 shares, compared to its average volume of 1,670,214. The stock’s fifty day simple moving average is $36.78. Omega Healthcare Investors has a 52 week low of $28.08 and a 52 week high of $39.31. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 1.30. The company has a market cap of $8.71 billion, a P/E ratio of 37.82, a PEG ratio of 4.79 and a beta of 1.00.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 17th. Investors of record on Monday, May 3rd were paid a $0.67 dividend. The ex-dividend date was Friday, April 30th. This represents a $2.68 annualized dividend and a yield of 7.25%. Omega Healthcare Investors’s payout ratio is 82.97%.

In related news, insider Steven J. Insoft sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $36.71, for a total value of $917,750.00. Following the transaction, the insider now owns 184,588 shares in the company, valued at $6,776,225.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders purchased 1,255 shares of company stock worth $45,884. 1.16% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Omega Healthcare Investors by 6.1% during the 1st quarter. BlackRock Inc. now owns 28,758,509 shares of the real estate investment trust’s stock valued at $1,053,425,000 after acquiring an additional 1,644,879 shares during the period. Geode Capital Management LLC increased its holdings in shares of Omega Healthcare Investors by 10.4% in the first quarter. Geode Capital Management LLC now owns 3,860,302 shares of the real estate investment trust’s stock worth $141,768,000 after purchasing an additional 364,513 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Omega Healthcare Investors by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,306,831 shares of the real estate investment trust’s stock worth $121,133,000 after purchasing an additional 31,746 shares during the period. Northern Trust Corp increased its holdings in shares of Omega Healthcare Investors by 6.3% in the first quarter. Northern Trust Corp now owns 3,232,646 shares of the real estate investment trust’s stock worth $118,412,000 after purchasing an additional 190,338 shares during the period. Finally, Amundi Asset Management US Inc. increased its holdings in shares of Omega Healthcare Investors by 29.5% in the first quarter. Amundi Asset Management US Inc. now owns 3,170,392 shares of the real estate investment trust’s stock worth $116,240,000 after purchasing an additional 722,453 shares during the period. 69.23% of the stock is currently owned by institutional investors and hedge funds.

About Omega Healthcare Investors

Omega is a real estate investment trust that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the US, as well as in the UK.

Featured Story: Penny Stocks

Get a free copy of the Zacks research report on Omega Healthcare Investors (OHI)

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

Earnings History and Estimates for Omega Healthcare Investors (NYSE:OHI)

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