OR Royalties (NYSE:OR) Releases Earnings Results, Beats Estimates By $0.01 EPS

OR Royalties (NYSE:OR) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. The business had revenue of $90.47 million during the quarter, compared to the consensus estimate of $90.80 million. OR Royalties had a return on equity of 12.73% and a net margin of 74.30%.

OR Royalties Price Performance

Shares of OR opened at $41.91 on Friday. The business has a 50-day moving average of $39.86 and a 200-day moving average of $36.11. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 38.45 and a beta of 0.76. OR Royalties has a 1 year low of $17.55 and a 1 year high of $47.75.

OR Royalties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, March 31st. OR Royalties’s dividend payout ratio (DPR) is 27.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OR. Scotiabank raised their price target on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Jefferies Financial Group restated a “hold” rating and issued a $38.00 target price on shares of OR Royalties in a research report on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Thursday, November 6th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, OR Royalties currently has an average rating of “Buy” and an average price target of $38.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. FIL Ltd bought a new stake in shares of OR Royalties in the 4th quarter valued at $29,000. Wells Fargo & Company MN lifted its holdings in OR Royalties by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock valued at $209,000 after buying an additional 346 shares during the period. Merit Financial Group LLC bought a new stake in OR Royalties during the third quarter valued at $215,000. Flow Traders U.S. LLC acquired a new stake in OR Royalties during the 3rd quarter worth about $217,000. Finally, Moors & Cabot Inc. acquired a new stake in OR Royalties during the 3rd quarter worth about $220,000. Institutional investors own 68.52% of the company’s stock.

About OR Royalties

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.