Orion (NYSE:OEC) Updates FY 2024 Earnings Guidance

Orion (NYSE:OEC) 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.

Orion Stock Down 4.7 %

NYSE:OEC traded down $0.77 on Friday, reaching $15.67. 1,332,388 shares of the stock traded hands, compared to its average volume of 454,653. The company has a market capitalization of $914.45 million, a price-to-earnings ratio of 29.57 and a beta of 1.48. The company has a current ratio of 1.39, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31. Orion has a 12 month low of $14.94 and a 12 month high of $28.48. The company’s fifty day simple moving average is $16.62 and its 200 day simple moving average is $20.30.

Orion (NYSE:OEC) last posted its quarterly earnings data on Thursday, November 7th. The specialty chemicals company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The company had revenue of $463.40 million during 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%. Equities analysts predict that Orion will post 1.85 EPS for the current fiscal year.

Orion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be given 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 yield of 0.54%. The ex-dividend date of this dividend is Friday, December 13th. Orion’s dividend payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

OEC has been the subject of several research reports. StockNews.com cut shares of Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling

In other news, CEO Corning F. Painter acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $17.69 per share, with a total value of $176,900.00. Following the completion of the acquisition, the chief executive officer now owns 958,776 shares in the company, valued at $16,960,747.44. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Orion Company Profile

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.