Orion (NYSE:OEC) Issues FY 2024 Earnings Guidance

Orion (NYSE:OEC - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.050-2.200 for the period, compared to the consensus earnings per share estimate of 2.160. The company issued revenue guidance of -.

Orion Trading Down 2.6 %

Shares of NYSE OEC traded down $0.64 during mid-day trading on Friday, hitting $23.60. The stock had a trading volume of 592,585 shares, compared to its average volume of 380,185. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 1.47. Orion has a 1 year low of $19.32 and a 1 year high of $28.48. The business has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $23.44. The firm has a market cap of $1.38 billion, a P/E ratio of 13.64 and a beta of 1.62.

Orion (NYSE:OEC - Get Free Report) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.11). Orion had a return on equity of 24.45% and a net margin of 5.46%. The firm had revenue of $502.90 million during the quarter, compared to analysts' expectations of $506.38 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm's quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Orion will post 2.15 EPS for the current fiscal year.

Orion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.021 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Tuesday, June 11th. Orion's payout ratio is currently 4.62%.

Analyst Upgrades and Downgrades

OEC has been the subject of several recent research reports. Mizuho lifted their target price on shares of Orion from $25.00 to $26.00 and gave the company a neutral rating in a report on Friday. StockNews.com raised Orion from a hold rating to a buy rating in a research note on Thursday, April 18th. Finally, UBS Group lowered their price target on Orion from $33.00 to $32.00 and set a buy rating for the company in a research report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Orion has a consensus rating of Moderate Buy and an average target price of $28.00.

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.