Northcoast Research Reiterates Buy Rating for Orion Engineered Carbons (NYSE:OEC)

Northcoast Research reiterated their buy rating on shares of Orion Engineered Carbons (NYSE:OEC) in a research note issued to investors on Tuesday, August 7th. Northcoast Research currently has a $40.00 target price on the specialty chemicals company’s stock. Northcoast Research also issued estimates for Orion Engineered Carbons’ Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.50 EPS, FY2018 earnings at $2.25 EPS and FY2019 earnings at $2.60 EPS.

OEC has been the topic of a number of other reports. Zacks Investment Research cut Orion Engineered Carbons from a buy rating to a hold rating in a research note on Tuesday, April 24th. ValuEngine cut Orion Engineered Carbons from a buy rating to a hold rating in a research note on Saturday, May 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $32.00.

NYSE:OEC traded down $0.05 during midday trading on Tuesday, reaching $36.00. The company had a trading volume of 304,900 shares, compared to its average volume of 520,546. The firm has a market cap of $2.11 billion, a PE ratio of 22.12 and a beta of 0.78. Orion Engineered Carbons has a 12-month low of $21.00 and a 12-month high of $36.55. The company has a current ratio of 2.01, a quick ratio of 1.40 and a debt-to-equity ratio of 5.08.

Orion Engineered Carbons (NYSE:OEC) last released its earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.17. Orion Engineered Carbons had a return on equity of 132.30% and a net margin of 7.95%. The firm had revenue of $391.60 million during the quarter, compared to analyst estimates of $342.90 million. During the same period last year, the business posted $0.37 earnings per share. Orion Engineered Carbons’s revenue was up 30.8% compared to the same quarter last year. equities analysts forecast that Orion Engineered Carbons will post 2.18 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, September 19th. Orion Engineered Carbons’s dividend payout ratio (DPR) is currently 49.08%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in Orion Engineered Carbons in the 4th quarter valued at about $136,000. Quantbot Technologies LP acquired a new position in Orion Engineered Carbons in the 1st quarter valued at about $189,000. Dynamic Technology Lab Private Ltd acquired a new position in Orion Engineered Carbons in the 2nd quarter valued at about $230,000. Quantitative Systematic Strategies LLC acquired a new position in Orion Engineered Carbons in the 1st quarter valued at about $231,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Orion Engineered Carbons in the 1st quarter valued at about $232,000. Institutional investors and hedge funds own 91.12% of the company’s stock.

About Orion Engineered Carbons

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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Analyst Recommendations for Orion Engineered Carbons (NYSE:OEC)

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