Orion (NYSE:OEC) Shares Gap Down - What's Next?

Key Points

• Orion's shares gapped down from a closing price of $10.34 to $10.04, with recent trading at $9.62 and a volume of 86,855 shares.
• Analysts have a consensus rating of "Reduce" for Orion, with a $9.00 target price reported by multiple firms and an average price target of $11.67.
• The company reported lower than expected earnings of $0.32 per share, missing estimates by $0.04, amid a 2.2% decline in revenue year-over-year.

Orion S.A. (NYSE:OEC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $10.34, but opened at $10.04. Orion shares last traded at $9.62, with a volume of 86,855 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OEC shares. Zacks Research upgraded Orion to a "strong sell" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $9.00 price target (down from $10.00) on shares of Orion in a report on Monday, August 11th. Finally, Mizuho reaffirmed an "underperform" rating and set a $9.00 price target on shares of Orion in a report on Friday, September 12th. One investment analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $11.67.

Orion Stock Performance

The company has a market cap of $502.26 million, a PE ratio of 33.77 and a beta of 1.05. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.10 and a quick ratio of 0.64. The business has a 50-day moving average of $10.42 and a 200 day moving average of $11.29.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The specialty chemicals company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The firm had revenue of $466.40 million for the quarter, compared to analysts' expectations of $475.77 million. Orion had a net margin of 0.82% and a return on equity of 16.67%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Equities research analysts anticipate that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Announces Dividend

The business also recently declared a interim dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, December 12th will be given a $0.0207 dividend. The ex-dividend date is Friday, December 12th. This represents a yield of 80.0%. Orion's dividend payout ratio is presently 29.63%.

Institutional Trading of Orion

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its position in Orion by 259.3% in the second quarter. Squarepoint Ops LLC now owns 222,702 shares of the specialty chemicals company's stock worth $2,336,000 after buying an additional 160,720 shares in the last quarter. State of Wyoming purchased a new stake in Orion in the second quarter worth about $220,000. Tower Research Capital LLC TRC increased its position in Orion by 321.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company's stock worth $77,000 after buying an additional 5,632 shares in the last quarter. Harvey Partners LLC increased its position in Orion by 15.5% in the second quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company's stock worth $25,438,000 after buying an additional 325,995 shares in the last quarter. Finally, Grizzlyrock Capital LLC boosted its stake in shares of Orion by 6.5% in the second quarter. Grizzlyrock Capital LLC now owns 206,280 shares of the specialty chemicals company's stock worth $2,164,000 after acquiring an additional 12,500 shares during the period. Hedge funds and other institutional investors own 94.33% of the company's stock.

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.