Q4 2022 EPS Estimates for Orion Engineered Carbons S.A. (NYSE:OEC) Boosted by Jefferies Financial Group

Orion Engineered Carbons S.A. (NYSE:OECGet Rating) – Equities research analysts at Jefferies Financial Group lifted their Q4 2022 earnings estimates for shares of Orion Engineered Carbons in a report released on Thursday, June 9th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings per share of $0.53 for the quarter, up from their prior estimate of $0.42. Jefferies Financial Group also issued estimates for Orion Engineered Carbons’ FY2023 earnings at $2.55 EPS.

Orion Engineered Carbons (NYSE:OECGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The specialty chemicals company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Orion Engineered Carbons had a return on equity of 33.42% and a net margin of 8.60%. The company had revenue of $484.50 million for the quarter, compared to analyst estimates of $433.84 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue was up 34.6% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. Barclays decreased their price objective on shares of Orion Engineered Carbons from $17.00 to $16.00 in a report on Tuesday, February 22nd. Finally, Zacks Investment Research raised Orion Engineered Carbons from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $22.20.

Shares of OEC opened at $19.96 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.51 and a quick ratio of 1.00. Orion Engineered Carbons has a 1-year low of $14.05 and a 1-year high of $20.99. The firm has a 50 day simple moving average of $17.05 and a 200-day simple moving average of $17.32. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 8.46 and a beta of 1.62.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 22nd will be issued a dividend of $0.021 per share. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $0.08 annualized dividend and a yield of 0.42%. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 3.39%.

In related news, CFO Jeffrey Glajch acquired 5,000 shares of the stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $17.03 per share, for a total transaction of $85,150.00. Following the completion of the purchase, the chief financial officer now owns 15,000 shares in the company, valued at approximately $255,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in Orion Engineered Carbons by 36.7% during the fourth quarter. Lazard Asset Management LLC now owns 2,371 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 636 shares in the last quarter. UBS Group AG lifted its holdings in shares of Orion Engineered Carbons by 102.7% during the third quarter. UBS Group AG now owns 2,663 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 1,349 shares during the period. Covestor Ltd bought a new position in shares of Orion Engineered Carbons during the first quarter valued at $48,000. Point72 Hong Kong Ltd bought a new position in shares of Orion Engineered Carbons during the first quarter valued at $117,000. Finally, Citigroup Inc. lifted its holdings in shares of Orion Engineered Carbons by 71.1% during the third quarter. Citigroup Inc. now owns 8,043 shares of the specialty chemicals company’s stock valued at $146,000 after acquiring an additional 3,341 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Orion Engineered Carbons Company Profile (Get Rating)

Orion Engineered Carbons SA, together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. 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 polymers, coatings, and battery electrodes.

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