Orion (NYSE:OEC) Releases FY 2024 Earnings Guidance

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

Orion Price Performance

Shares of NYSE:OEC traded down $0.77 during trading on Friday, reaching $15.67. 1,332,388 shares of the company’s stock traded hands, compared to its average volume of 454,653. The firm has a market cap of $914.45 million, a PE ratio of 29.57 and a beta of 1.48. Orion has a fifty-two week low of $14.94 and a fifty-two week high of $28.48. The company has a 50-day simple moving average of $16.62 and a 200-day simple moving average of $20.28. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31.

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

Orion Increases Dividend

The firm also recently declared 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 represents a $0.08 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Orion’s previous quarterly dividend of $0.02. Orion’s dividend payout ratio is 15.09%.

Analysts Set New Price Targets

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

Insider Activity

In other Orion news, CEO Corning F. Painter purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $17.69 per share, with a total value of $176,900.00. Following the purchase, the chief executive officer now owns 958,776 shares in the company, 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 filing with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.

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.