OR Royalties Inc. (NYSE:OR – Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.065 per share by the basic materials company on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th.
OR Royalties has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. OR Royalties has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Analysts expect OR Royalties to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 19.8%.
OR Royalties Trading Down 0.0%
OR traded down $0.01 during trading on Thursday, hitting $32.23. 469,023 shares of the company traded hands, compared to its average volume of 1,181,041. OR Royalties has a 1 year low of $27.54 and a 1 year high of $48.06. The stock’s 50-day simple moving average is $31.86 and its two-hundred day simple moving average is $37.35. The company has a market cap of $6.04 billion, a PE ratio of 24.04 and a beta of 0.75.
Wall Street Analyst Weigh In
Several brokerages have issued reports on OR. Weiss Ratings cut shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research lowered OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Royal Bank Of Canada lowered their price target on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group lowered their target price on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank cut their price target on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.50.
Check Out Our Latest Research Report on OR Royalties
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.
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