Orion Engineered Carbons SA (NYSE:OEC) – Investment analysts at Northcoast Research decreased their FY2018 earnings per share (EPS) estimates for Orion Engineered Carbons in a research note issued to investors on Monday, November 5th. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will post earnings of $2.20 per share for the year, down from their previous forecast of $2.25. Northcoast Research currently has a “Buy” rating and a $40.00 price objective on the stock.
Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Orion Engineered Carbons had a net margin of 8.22% and a return on equity of 108.30%. The company had revenue of $394.00 million for the quarter, compared to the consensus estimate of $333.14 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year.
Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Orion Engineered Carbons from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Wednesday. ValuEngine raised shares of Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Loop Capital assumed coverage on shares of Orion Engineered Carbons in a report on Wednesday, October 3rd. They issued a “buy” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Orion Engineered Carbons presently has an average rating of “Buy” and an average price target of $32.57.
Shares of NYSE OEC opened at $26.35 on Wednesday. Orion Engineered Carbons has a 12-month low of $22.25 and a 12-month high of $36.55. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.17 and a beta of 1.09. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 4.48.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, December 17th. Orion Engineered Carbons’s payout ratio is 49.08%.
Several institutional investors and hedge funds have recently made changes to their positions in OEC. FMR LLC lifted its stake in shares of Orion Engineered Carbons by 22.3% during the second quarter. FMR LLC now owns 5,261,660 shares of the specialty chemicals company’s stock valued at $162,322,000 after buying an additional 957,855 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Orion Engineered Carbons by 25.5% during the second quarter. Victory Capital Management Inc. now owns 3,348,625 shares of the specialty chemicals company’s stock valued at $103,305,000 after buying an additional 679,719 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Orion Engineered Carbons by 23.8% during the second quarter. Renaissance Technologies LLC now owns 3,538,800 shares of the specialty chemicals company’s stock valued at $109,172,000 after buying an additional 679,700 shares during the period. First Manhattan Co. purchased a new position in shares of Orion Engineered Carbons during the second quarter valued at approximately $9,811,000. Finally, James Investment Research Inc. lifted its stake in shares of Orion Engineered Carbons by 462.7% during the third quarter. James Investment Research Inc. now owns 379,195 shares of the specialty chemicals company’s stock valued at $12,172,000 after buying an additional 311,810 shares during the period. 91.46% of the stock is currently owned by institutional investors and hedge funds.
Orion Engineered Carbons Company Profile
Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.
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