OR Royalties (NYSE:OR) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• OR Royalties reported quarterly EPS of $0.32, beating the consensus estimate of $0.31 by $0.01. The company posted a 78.09% net margin and 15.10% return on equity.
• Shares rose $1.56 to $32.32 during Wednesday’s trading session. The stock has a market capitalization of $6.05 billion and trades well below its 52-week high of $48.06.
• Analyst sentiment is mixed but leans neutral, with a consensus rating of “Hold” and an average price target of $40.50. Institutional investors and hedge funds own 68.52% of the company, with Goldman Sachs notably increasing its position by 152.4%.

OR Royalties (NYSE:OR - Get Free Report) released its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%.

OR Royalties Stock Performance

Shares of OR Royalties stock traded up $1.56 during midday trading on Wednesday, reaching $32.32. 1,213,135 shares of the company's stock traded hands, compared to its average volume of 991,022. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 24.12 and a beta of 0.75. The company's 50 day simple moving average is $31.86 and its 200 day simple moving average is $37.35. OR Royalties has a 52 week low of $27.54 and a 52 week high of $48.06.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings cut shares of OR Royalties from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. Scotiabank reduced their price objective on OR Royalties from $51.00 to $42.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Jefferies Financial Group lowered their target price on OR Royalties from $40.00 to $34.00 and set a "hold" rating on the stock in a research note on Monday, July 6th. Zacks Research lowered OR Royalties from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded OR Royalties from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.50.

Hedge Funds Weigh In On OR Royalties

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company's stock worth $26,539,000 after buying an additional 758,815 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of OR Royalties by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company's stock valued at $2,384,000 after acquiring an additional 2,459 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of OR Royalties by 3.5% in the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company's stock valued at $337,000 after acquiring an additional 440 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of OR Royalties by 58.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company's stock valued at $5,275,000 after acquiring an additional 75,596 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in OR Royalties in the 2nd quarter worth approximately $1,051,000. 68.52% of the stock is owned by institutional investors and hedge funds.

OR Royalties Company Profile

OR Royalties PLC NYSE: OR is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company's core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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