Orion (NYSE:OEC) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Orion (NYSE:OEC) posted its earnings results on Wednesday. The specialty chemicals company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08), FiscalAI reports. Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The firm had revenue of $472.80 million for the quarter, compared to the consensus estimate of $445.99 million.

Orion Trading Down 22.7%

Shares of OEC stock traded down $1.33 during trading hours on Thursday, reaching $4.54. 422,641 shares of the stock were exchanged, compared to its average volume of 578,127. The firm has a market capitalization of $256.61 million, a price-to-earnings ratio of -2.62 and a beta of 1.05. Orion has a 12-month low of $4.34 and a 12-month high of $8.64. The company’s 50-day moving average price is $5.76 and its 200-day moving average price is $6.36. The company has a current ratio of 1.03, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72.

Orion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Friday, December 11th will be paid a dividend of $0.0207 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.8%. Orion’s payout ratio is currently -4.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Orion from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a report on Thursday, October 15th. Zacks Research upgraded shares of Orion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Orion currently has a consensus rating of “Strong Sell” and an average price target of $5.58.

Orion Company Profile

Orion SA, formerly known as Orion Engineered Carbons SA, is a global specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty carbon black, high-performance carbon black, conductive additives and other carbon materials used in a range of industrial and consumer applications.

The company’s products help provide color, conductivity, reinforcement, ultraviolet protection and other performance characteristics in products such as coatings, paints, printing inks, plastics, adhesives, sealants, batteries, tires and other rubber goods.