Zacks Investment Research downgraded shares of Orange (NYSE:ORAN) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Orange SA provides telecommunications services. It offers a range of fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other value-added services to consumers, businesses, and other telecommunications operators under the Orange brand worldwide. Orange SA, formerly known as France Telecom S.A., is based in Paris, France. “
Separately, Argus cut their price target on shares of Orange from $21.00 to $19.00 and set a buy rating on the stock in a report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Orange currently has a consensus rating of Hold and a consensus target price of $18.50.
The company also recently announced a semiannual dividend, which will be paid on Friday, December 21st. Investors of record on Monday, December 3rd will be issued a $0.3399 dividend. This is a positive change from Orange’s previous semiannual dividend of $0.29. The ex-dividend date of this dividend is Friday, November 30th. This represents a yield of 4.09%. Orange’s payout ratio is presently 108.57%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Orange by 5.9% in the second quarter. Bank of America Corp DE now owns 5,916,094 shares of the technology company’s stock valued at $98,621,000 after buying an additional 330,125 shares during the period. Morgan Stanley lifted its holdings in Orange by 18.8% in the third quarter. Morgan Stanley now owns 2,941,520 shares of the technology company’s stock valued at $46,740,000 after buying an additional 465,082 shares during the period. Northern Trust Corp lifted its holdings in Orange by 2.9% in the second quarter. Northern Trust Corp now owns 2,703,587 shares of the technology company’s stock valued at $45,069,000 after buying an additional 76,660 shares during the period. Baird Financial Group Inc. lifted its holdings in Orange by 0.9% in the second quarter. Baird Financial Group Inc. now owns 1,530,167 shares of the technology company’s stock valued at $25,508,000 after buying an additional 14,002 shares during the period. Finally, FMR LLC acquired a new position in Orange in the third quarter valued at $6,267,000. Institutional investors and hedge funds own 1.42% of the company’s stock.
Orange Company Profile
Orange SA provides a range of fixed telephony and mobile telecommunications, data transmission, and other value-added services to consumers, businesses, and other telecommunications operators in Europe, Africa, and the Middle East. It offers mobile, fixed-line telephony, fixed broadband, business solutions and networks, and carrier services; sells mobile devices, equipment, and accessories; and sells and rents fixed-line equipment.
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