Orion (NYSE:OEC) Issues Quarterly Earnings Results

Orion (NYSE:OEC) posted its earnings results on Wednesday. The specialty chemicals company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08), FiscalAI reports. The firm had revenue of $472.80 million for the quarter, compared to analyst estimates of $445.99 million. Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%.

Orion Price Performance

Shares of OEC stock traded up $0.36 on Wednesday, reaching $5.87. The company had a trading volume of 537,487 shares, compared to its average volume of 579,322. The business’s 50-day moving average is $5.77 and its 200 day moving average is $6.36. Orion has a one year low of $4.34 and a one year high of $8.64. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $331.49 million, a PE ratio of -3.39 and a beta of 1.05.

Orion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Friday, December 11th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, December 11th. Orion’s dividend payout ratio is currently -4.62%.

Analysts Set New Price Targets

Several brokerages have weighed in on OEC. Wall Street Zen upgraded shares of Orion from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Thursday, October 15th. Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group dropped their price target on shares of Orion from $8.00 to $6.50 and set a “neutral” rating for the company in a research report on Monday, October 5th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Orion presently has an average rating of “Strong Sell” and a consensus price target of $5.58.

About Orion

Orion SA, formerly known as Orion Engineered Carbons SA, is a global specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty carbon black, high-performance carbon black, conductive additives and other carbon materials used in a range of industrial and consumer applications.

The company’s products help provide color, conductivity, reinforcement, ultraviolet protection and other performance characteristics in products such as coatings, paints, printing inks, plastics, adhesives, sealants, batteries, tires and other rubber goods.