Orion (NYSE:OEC) Issues FY 2024 Earnings Guidance

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

Orion Stock Down 2.6 %

Orion stock opened at $23.60 on Monday. The company’s 50-day moving average price is $23.41 and its two-hundred day moving average price is $23.50. The company has a quick ratio of 0.85, a current ratio of 1.45 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.38 billion, a P/E ratio of 15.95 and a beta of 1.62. Orion has a twelve month low of $19.32 and a twelve month high of $28.48.

Orion (NYSE:OEC) last announced its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.11). The firm had revenue of $502.90 million for the quarter, compared to the consensus estimate of $506.38 million. Orion had a return on equity of 21.07% and a net margin of 4.64%. Orion’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, analysts expect that Orion will post 2.15 EPS for the current year.

Orion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.021 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Tuesday, June 11th. Orion’s dividend payout ratio is currently 5.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group lowered their price target on shares of Orion from $33.00 to $32.00 and set a buy rating on the stock in a research report on Thursday, January 11th. StockNews.com raised shares of Orion from a hold rating to a buy rating in a report on Thursday, April 18th. Finally, Mizuho boosted their price target on Orion from $25.00 to $26.00 and gave the company a neutral rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Orion has a consensus rating of Moderate Buy and a consensus price target 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.