OCI Partners Rating Lowered to Underperform at Zacks (OCIP)
OCI Partners (NASDAQ:OCIP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday. They currently have a $18.70 price objective on the stock. Zacks‘s price target would indicate a potential downside of 5.17% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of OCI Partners in a research note on Thursday, August 14th. They now have a $20.00 price target on the stock, down previously from $25.00. 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.34.
In other OCI Partners news, Insider Nassef Sawiris purchased 9,796 shares of OCI Partners stock on the open market in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $18.99 per share, with a total value of $186,026.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of OCI Partners (NASDAQ:OCIP) traded up 0.28% on Monday, hitting $19.775. 137,972 shares of the company’s stock traded hands. OCI Partners has a one year low of $16.08 and a one year high of $28.73. The stock has a 50-day moving average of $20.32 and a 200-day moving average of $21.86. The company has a market cap of $1.592 billion and a P/E ratio of 43.73.
OCI Partners (NASDAQ:OCIP) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.13. Analysts expect that OCI Partners will post $1.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend is Wednesday, August 20th. This is a boost from OCI Partners’s previous quarterly dividend of $0.41.
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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