Orion Engineered Carbons SA (OEC) is Initiated by BB&T Capital Mkts to Buy, Price Target at $24

Orion Engineered Carbons SA (OEC) was Initiated by BB&T Capital Mkts to “Buy” and the brokerage firm has set the Price Target at $24. BB&T Capital Mkts advised their investors in a research report released on Jun 10, 2016.

On the company’s financial health, Orion Engineered Carbons SA reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.26. The company had revenue of $246.30 million for the quarter, compared to analysts expectations of $268.77 million. The company’s revenue was down -15.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Orion Engineered Carbons SA closed down -0.34 points or -2.06% at $16.16 with 54,159 shares getting traded on Thursday. Post opening the session at $16.48, the shares hit an intraday low of $16.02 and an intraday high of $16.48 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Orion Engineered Carbons S.A. formerly Orion Engineered Carbons S.a r.l. is a producer of carbon black. The company operates a carbon black business with more than 280 carbon black grades and approximately 80 rubber carbon black grades. Carbon black is a form of carbon used to improve certain properties of materials into which it is added. The Company operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company operates a supply chain network comprising 13 wholly owned production plants and one jointly-owned production plant. The company offers specialty carbon black products which are used as a pigment and as a performance additive in coatings polymers printing and special applications. It also offers rubber carbon black products which are used in the reinforcement of rubber in tires and mechanical rubber goods.

Orion Engineered Carbons SA

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