Orion (NYSE:OEC) Updates FY 2024 Earnings Guidance

Orion (NYSE:OEC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.750-1.950 for the period, compared to the consensus earnings per share estimate of 2.150. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages recently commented on OEC. Mizuho raised their price objective on shares of Orion from $25.00 to $26.00 and gave the company a neutral rating in a research report on Friday, May 3rd. StockNews.com upgraded Orion from a hold rating to a buy rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Orion currently has a consensus rating of Moderate Buy and an average price target of $26.25.

Orion Price Performance

Orion stock traded down $5.16 during mid-day trading on Friday, hitting $17.88. 1,777,250 shares of the company were exchanged, compared to its average volume of 418,829. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.45 and a quick ratio of 0.85. Orion has a 12-month low of $17.13 and a 12-month high of $28.48. The business’s 50 day simple moving average is $22.99 and its two-hundred day simple moving average is $23.35. The company has a market capitalization of $1.04 billion, a P/E ratio of 12.08 and a beta of 1.53.

Orion (NYSE:OEC) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.18). The firm had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $491.14 million. Orion had a net margin of 4.09% and a return on equity of 19.40%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Analysts forecast that Orion will post 2.13 earnings per share for the current fiscal year.

Orion Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, July 1st will be given a $0.0207 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. Orion’s dividend payout ratio is presently 5.41%.

Insider Activity at Orion

In other news, VP Carlos Quinones purchased 4,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $23.51 per share, for a total transaction of $94,040.00. Following the completion of the purchase, the vice president now directly owns 69,702 shares of the company’s stock, valued at approximately $1,638,694.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Orion news, VP Carlos Quinones acquired 4,000 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $23.51 per share, for a total transaction of $94,040.00. Following the purchase, the vice president now directly owns 69,702 shares in the company, valued at $1,638,694.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Glajch purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $23.68 per share, with a total value of $118,400.00. Following the completion of the purchase, the chief financial officer now directly owns 77,061 shares of the company’s stock, valued at approximately $1,824,804.48. The disclosure for this purchase can be found here. 6.30% of the stock is owned by insiders.

Orion Company Profile

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.