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OCI Partners (NASDAQ:OCIP) dropped 11.7% during trading on Tuesday following a dissappointing earnings announcement, AmericanBankingNews.com reports. The stock traded as low as $17.79 and last traded at $18.05, with a volume of 381,459 shares changing hands. The stock had previously closed at $20.45.

The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.64 by $0.13.

Separately, analysts at Alembic Global Advisors initiated coverage on shares of OCI Partners in a research note on Monday, June 23rd. They set an “overweight” rating and a $30.00 price target on the stock.

The stock’s 50-day moving average is $20.83 and its 200-day moving average is $22.21. The company has a market cap of $1.457 billion and a P/E ratio of 53.26.

OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont.

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