Orion (NYSE:OEC) Updates FY 2024 Earnings Guidance

Orion (NYSE:OEC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.750-1.950 for the period, compared to the consensus earnings per share estimate of 2.150. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several analysts have commented on OEC shares. Mizuho lifted their price target on Orion from $25.00 to $26.00 and gave the company a neutral rating in a report on Friday, May 3rd. StockNews.com raised shares of Orion from a hold rating to a buy rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $26.25.

Orion Stock Down 22.4 %

NYSE:OEC traded down $5.16 during mid-day trading on Friday, hitting $17.88. The company had a trading volume of 1,777,250 shares, compared to its average volume of 418,829. The business has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $23.35. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.08 and a beta of 1.53. Orion has a 1 year low of $17.13 and a 1 year high of $28.48. The company has a current ratio of 1.45, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36.

Orion (NYSE:OEC) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.18). The company had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $491.14 million. Orion had a net margin of 4.09% and a return on equity of 19.40%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts forecast that Orion will post 2.13 earnings per share for the current fiscal year.

Orion Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, July 1st will be given a $0.0207 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, July 1st. Orion’s payout ratio is 5.41%.

Insider Transactions at Orion

In other news, VP Sandra Niewiem sold 8,305 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $24.21, for a total value of $201,064.05. Following the sale, the vice president now owns 14,099 shares in the company, valued at approximately $341,336.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Orion news, CFO Jeffrey Glajch acquired 5,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $23.68 per share, with a total value of $118,400.00. Following the transaction, the chief financial officer now directly owns 77,061 shares in the company, valued at $1,824,804.48. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sandra Niewiem sold 8,305 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $24.21, for a total transaction of $201,064.05. Following the completion of the transaction, the vice president now directly owns 14,099 shares in the company, valued at approximately $341,336.79. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

About Orion

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.