Orion (NYSE:OEC) Issues 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 -.

Orion Stock Down 22.4 %

Shares of OEC traded down $5.16 during trading hours on Friday, reaching $17.88. The stock had a trading volume of 1,777,250 shares, compared to its average volume of 418,829. Orion has a 12 month low of $17.13 and a 12 month high of $28.48. The firm has a 50-day simple moving average of $22.99 and a 200 day simple moving average of $23.35. The company has a current ratio of 1.45, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.08 and a beta of 1.53.

Orion (NYSE:OEC) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). The firm had revenue of $477.00 million during the quarter, compared to the consensus estimate of $491.14 million. Orion had a return on equity of 19.40% and a net margin of 4.09%. Orion’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Equities research analysts predict 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. Stockholders of record on Monday, July 1st will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, July 1st. Orion’s dividend payout ratio is presently 5.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Mizuho lifted their price objective on Orion from $25.00 to $26.00 and gave the stock a neutral rating in a report on Friday, May 3rd. StockNews.com raised Orion from a hold rating to a buy rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Orion has a consensus rating of Moderate Buy and a consensus target price of $26.25.

Insider Buying and Selling

In other news, VP Carlos Quinones acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $23.51 per share, with a total value of $94,040.00. Following the acquisition, the vice president now owns 69,702 shares in the company, valued at approximately $1,638,694.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jeffrey Glajch bought 5,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $23.68 per share, for a total transaction of $118,400.00. Following the purchase, the chief financial officer now directly owns 77,061 shares in the company, valued at $1,824,804.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Carlos Quinones purchased 4,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $23.51 per share, with a total value of $94,040.00. Following the transaction, the vice president now owns 69,702 shares in the company, valued at approximately $1,638,694.02. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by insiders.

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.