Scotiabank Analysts Cut Earnings Estimates for OR Royalties

OR Royalties Inc. (NYSE:OR) – Analysts at Scotiabank decreased their FY2027 earnings estimates for OR Royalties in a report issued on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings per share of $1.21 for the year, down from their prior estimate of $1.31. Scotiabank has a “Sector Perform” rating and a $42.00 price target on the stock. The consensus estimate for OR Royalties’ current full-year earnings is $1.35 per share.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The firm had revenue of $102.83 million for the quarter, compared to analysts’ expectations of $103.27 million.

OR has been the topic of several other research reports. Weiss Ratings downgraded OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Royal Bank Of Canada decreased their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group lowered their target price on OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, OR Royalties presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

OR Royalties Stock Up 0.7%

Shares of OR stock opened at $28.25 on Friday. The firm has a market cap of $5.29 billion, a P/E ratio of 21.08 and a beta of 0.74. The company has a 50 day moving average of $33.72 and a 200-day moving average of $38.07. OR Royalties has a 12-month low of $27.07 and a 12-month high of $48.06.

Institutional Investors Weigh In On OR Royalties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of OR Royalties by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after acquiring an additional 167,970 shares during the period. Picton Mahoney Asset Management raised its stake in shares of OR Royalties by 1.6% during the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock valued at $112,114,000 after purchasing an additional 50,882 shares during the period. Elliott Investment Management L.P. lifted its holdings in OR Royalties by 42.7% during the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock worth $110,098,000 after purchasing an additional 930,849 shares in the last quarter. Norges Bank purchased a new stake in OR Royalties during the 4th quarter worth about $88,597,000. Finally, Tidal Investments LLC boosted its stake in OR Royalties by 25.4% in the 3rd quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock worth $94,098,000 after purchasing an additional 474,840 shares during the period. Institutional investors own 68.52% of the company’s stock.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.065 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.9%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is presently 18.66%.

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.