Orion (NYSE:OEC) Releases FY 2024 Earnings Guidance

by · The Markets Daily

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

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on OEC

Orion Trading Down 1.4 %

Shares of OEC traded down $0.23 during mid-day trading on Thursday, reaching $16.43. 501,337 shares of the company were exchanged, compared to its average volume of 434,074. The business has a 50 day simple moving average of $16.68 and a two-hundred day simple moving average of $20.36. Orion has a 52 week low of $14.94 and a 52 week high of $28.48. The stock has a market capitalization of $958.85 million, a PE ratio of 12.45 and a beta of 1.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 1.39.

Orion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, December 13th. Orion’s dividend payout ratio is currently 6.06%.

Insider Transactions at Orion

In other Orion news, CEO Corning F. Painter acquired 10,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $17.69 per share, with a total value of $176,900.00. Following the transaction, the chief executive officer now owns 958,776 shares in the company, valued at approximately $16,960,747.44. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Orion news, CEO Corning F. Painter purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $17.69 per share, for a total transaction of $176,900.00. Following the acquisition, the chief executive officer now owns 958,776 shares of the company’s stock, valued at approximately $16,960,747.44. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dan F. Smith acquired 2,500 shares of Orion stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $18.53 per share, with a total value of $46,325.00. Following the transaction, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by corporate insiders.

Orion Company Profile

(Get Free Report)

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.

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