Orion (NYSE:OEC) Releases FY 2024 Earnings Guidance

Orion (NYSE:OEC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.650-1.750 for the period, compared to the consensus EPS estimate of 1.820. The company issued revenue guidance of -. Orion also updated its FY24 guidance to $1.65-1.75 EPS.

Analyst Ratings Changes

A number of research analysts have issued reports on OEC shares. StockNews.com lowered Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Orion Price Performance

NYSE OEC traded down $0.77 during trading on Friday, reaching $15.67. 1,332,388 shares of the company traded hands, compared to its average volume of 454,653. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 1.39. The stock’s 50 day moving average price is $16.62 and its two-hundred day moving average price is $20.28. Orion has a 1-year low of $14.94 and a 1-year high of $28.48. The company has a market cap of $914.45 million, a price-to-earnings ratio of 29.57 and a beta of 1.48.

Orion (NYSE:OEC) last released its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). Orion had a return on equity of 19.21% and a net margin of 4.09%. The firm had revenue of $463.40 million for the quarter, compared to the consensus estimate of $489.01 million. As a group, analysts anticipate that Orion will post 1.85 EPS for the current year.

Orion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, December 13th will be paid a $0.021 dividend. This is a positive change from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, December 13th. Orion’s payout ratio is presently 15.09%.

Insider Activity at Orion

In other news, CEO Corning F. Painter bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $17.69 per share, with a total value of $176,900.00. Following the completion of the acquisition, the chief executive officer now owns 958,776 shares of the company’s stock, valued at $16,960,747.44. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by company 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.