Orion Engineered Carbons SA (OEC) Sees Strong Trading Volume
Orion Engineered Carbons SA (NYSE:OEC) shares saw unusually-strong trading volume on Wednesday . Approximately 111,657 shares were traded during trading, an increase of 51% from the previous session’s volume of 74,121 shares.The stock last traded at $18.58 and had previously closed at $18.37.
A number of brokerages have weighed in on OEC. TheStreet upgraded shares of Orion Engineered Carbons SA from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. BB&T Corp. began coverage on shares of Orion Engineered Carbons SA in a research report on Friday, June 10th. They issued a “buy” rating and a $24.00 price objective for the company. Zacks Investment Research upgraded shares of Orion Engineered Carbons SA from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Orion Engineered Carbons SA from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.60.
The company has a 50 day moving average price of $17.02 and a 200-day moving average price of $15.06. The company has a market capitalization of $1.11 billion and a price-to-earnings ratio of 22.56.
Orion Engineered Carbons SA (NYSE:OEC) last posted its earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The company earned $247.89 million during the quarter, compared to analysts’ expectations of $254.85 million. During the same period last year, the business earned $0.33 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Equities analysts forecast that Orion Engineered Carbons SA will post $1.40 EPS for the current fiscal year.
Orion Engineered Carbons SA is a producer of carbon black. The Company conducts its operations through two segments: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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