Orion Engineered Carbons SA (NYSE:OEC) – Research analysts at Jefferies Financial Group dropped their FY2020 earnings estimates for Orion Engineered Carbons in a research report issued on Monday, May 13th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings per share of $2.25 for the year, down from their previous estimate of $2.35. Jefferies Financial Group also issued estimates for Orion Engineered Carbons’ FY2023 earnings at $3.00 EPS.
Several other brokerages have also recently issued reports on OEC. ValuEngine cut Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Zacks Investment Research raised Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. CJS Securities initiated coverage on Orion Engineered Carbons in a research report on Thursday, March 21st. They set a “market outperform” rating on the stock. JPMorgan Chase & Co. cut Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and cut their target price for the company from $31.00 to $20.00 in a research report on Monday, March 11th. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Orion Engineered Carbons in a research report on Tuesday, March 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.50.
Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.08). Orion Engineered Carbons had a net margin of 7.47% and a return on equity of 82.03%. The firm had revenue of $384.71 million during the quarter, compared to analyst estimates of $412.14 million. During the same period last year, the business posted $0.58 EPS. The company’s revenue was down 5.4% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, June 19th. This represents a $0.80 annualized dividend and a dividend yield of 4.18%. Orion Engineered Carbons’s payout ratio is presently 36.20%.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Orion Engineered Carbons in the first quarter valued at $39,000. O Shaughnessy Asset Management LLC raised its stake in shares of Orion Engineered Carbons by 53.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,440 shares of the specialty chemicals company’s stock valued at $62,000 after purchasing an additional 846 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Orion Engineered Carbons during the 4th quarter valued at $114,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Orion Engineered Carbons by 48.6% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,040 shares of the specialty chemicals company’s stock valued at $152,000 after purchasing an additional 2,630 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Orion Engineered Carbons by 10.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 9,959 shares of the specialty chemicals company’s stock valued at $252,000 after purchasing an additional 940 shares during the period. Hedge funds and other institutional investors own 94.71% of the company’s stock.
Orion Engineered Carbons Company Profile
Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.
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