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.