Orion Engineered Carbons Coverage Initiated at Morgan Stanley (OEC)
Equities researchers at Morgan Stanley started coverage on shares of Orion Engineered Carbons (NYSE:OEC) in a research report issued on Friday. The firm set an “equal weight” rating and a $19.40 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 12.40% from the company’s current price.
The analysts wrote, “As a top 3 player in carbon black, Orion offers exposure to attractive themes across tyre and auto markets, and higher margin growth across specialty applications, where it is the market leader. However, its risk/reward profile is balanced and 14% base case upside is more supportive of an EW stance.”
A number of other analysts have also recently weighed in on OEC. Analysts at KeyCorp initiated coverage on shares of Orion Engineered Carbons in a research note on Wednesday. They set a “buy” rating and a $22.00 price target on the stock. Analysts at Northcoast Research initiated coverage on shares of Orion Engineered Carbons in a research note on Thursday, August 21st. They set a “buy” rating on the stock.
Orion Engineered Carbons (NYSE:OEC) opened at 17.26 on Friday. Orion Engineered Carbons has a 52-week low of $15.87 and a 52-week high of $18.37. The stock’s 50-day moving average is $17.08 and its 200-day moving average is $17.08. The company’s market cap is $755.1 million.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.09 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.19. The company had revenue of $341.28 million for the quarter, compared to the consensus estimate of $350.00 million. Orion Engineered Carbons’s revenue was down 2.7% compared to the same quarter last year. Analysts expect that Orion Engineered Carbons will post $0.85 EPS for the current fiscal year.
Orion Engineered Carbons S.a r.l. is a producer of carbon black. Carbon black is a form of carbon used to improve certain properties of materials into which it is added.