OR Royalties Inc. to Issue Quarterly Dividend of $0.06 (NYSE:OR)

OR Royalties Inc. (NYSE:OR) announced a quarterly dividend on Wednesday, February 18th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.055 per share by the basic materials company on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, March 31st.

OR Royalties has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. OR Royalties has a dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OR Royalties to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 31.0%.

OR Royalties Stock Performance

Shares of NYSE OR traded down $1.29 during trading hours on Thursday, hitting $42.24. The stock had a trading volume of 221,531 shares, compared to its average volume of 1,547,213. The firm’s 50-day moving average price is $39.74 and its two-hundred day moving average price is $36.07. OR Royalties has a 52 week low of $17.55 and a 52 week high of $47.75. The company has a market capitalization of $7.92 billion, a P/E ratio of 53.21 and a beta of 0.76.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The firm had revenue of $90.47 million during the quarter, compared to analysts’ expectations of $90.80 million. As a group, analysts expect that OR Royalties will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OR. Canaccord Genuity Group upgraded shares of OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. Scotiabank boosted their target price on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Zacks Research upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $38.25.

OR Royalties Company Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.