Omnova Solutions closed up 16% on Wednesday after announcing their FQ2 earnings results.

OMN beat the Zacks Consensus EPS estimate of $0.18 by $0.04. However, they missed their revenue target of $202M by $3.4M. The earnings report appears to be a breath of fresh air for OMN, which had experienced a 23 percent stock price decrease in the last 12 months.

The Beachwood, Ohio based company develops, manufactures and markets chemicals for industrial, commercial and consumer markets. OMN has been consistent recently on EPS surprises, with an average of 71.4%. Their most recent surprise was a very high 300%, when it beat EPS estimates of $0.01 by $0.03, however, they also missed revenue estimates by $15.3M at the time.

Analysts have not revised earnings estimates for OMN in the last 60 days. Considering these estimates are consistently increasing, with a $0.16 increase per share for next quarter and $0.53 for this fiscal year, OMN could be headed for greener pastures.

Omnova Solutions Currently sits at a Zacks Rank #3 (Hold).

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