Orion (NYSE:OEC) Issues Quarterly Earnings Results, Misses Estimates By $0.18 EPS
by Teresa Graham · The Cerbat GemOrion (NYSE:OEC – Get Free Report) released its quarterly earnings results on Wednesday. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18), FiscalAI reports. Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%.The firm had revenue of $459.50 million for the quarter, compared to analysts’ expectations of $434.31 million.
Orion Stock Performance
NYSE OEC traded up $0.47 during trading hours on Friday, reaching $7.63. 497,256 shares of the company were exchanged, compared to its average volume of 481,573. Orion has a 1 year low of $4.34 and a 1 year high of $12.10. The business’s 50 day simple moving average is $6.20 and its 200-day simple moving average is $5.82. The company has a quick ratio of 0.59, a current ratio of 1.00 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $430.31 million, a P/E ratio of -4.77 and a beta of 0.98.
Orion Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, June 10th. Orion’s dividend payout ratio (DPR) is -5.00%.
Analysts Set New Price Targets
Several research firms have commented on OEC. UBS Group lifted their target price on shares of Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Mizuho boosted their target price on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded Orion from a “sell” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $5.92.
Read Our Latest Analysis on Orion
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Orion by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock valued at $17,816,000 after buying an additional 7,045 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Orion by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,894,290 shares of the specialty chemicals company’s stock valued at $14,359,000 after buying an additional 213,339 shares during the last quarter. Invesco Ltd. lifted its position in shares of Orion by 0.4% during the 4th quarter. Invesco Ltd. now owns 1,807,965 shares of the specialty chemicals company’s stock valued at $9,546,000 after buying an additional 7,898 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Orion by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,404,458 shares of the specialty chemicals company’s stock valued at $7,416,000 after buying an additional 236,013 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Orion by 361.3% during the 4th quarter. AQR Capital Management LLC now owns 874,279 shares of the specialty chemicals company’s stock valued at $4,616,000 after buying an additional 684,749 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
About Orion
Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.
Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.