OR Royalties (NYSE:OR – Get Free Report) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The business had revenue of $97.82 million during the quarter, compared to the consensus estimate of $97.93 million.
OR Royalties Price Performance
NYSE:OR opened at $32.32 on Thursday. OR Royalties has a 12 month low of $27.54 and a 12 month high of $48.06. The firm has a market capitalization of $6.05 billion, a PE ratio of 24.12 and a beta of 0.75. The business’s fifty day moving average price is $31.86 and its 200 day moving average price is $37.35.
Analyst Ratings Changes
A number of brokerages recently commented on OR. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Royal Bank Of Canada reduced their price target on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group dropped their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 6th. Zacks Research lowered shares of OR Royalties from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings lowered OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.50.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Elliott Investment Management L.P. raised its holdings in shares of OR Royalties by 42.7% in the fourth quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after buying an additional 930,849 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after acquiring an additional 758,815 shares during the period. Invesco Ltd. raised its position in OR Royalties by 85.3% in the third quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock worth $61,858,000 after acquiring an additional 710,654 shares in the last quarter. Verbena Value LP purchased a new stake in shares of OR Royalties during the 4th quarter worth $24,734,000. Finally, Millennium Management LLC purchased a new position in shares of OR Royalties in the 4th quarter valued at about $23,028,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.
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.
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