OR Royalties (NYSE:OR) Cut to Hold at Zacks Research

Zacks Research lowered shares of OR Royalties (NYSE:OR) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently commented on OR. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties in a research note on Wednesday, February 4th. TD Securities reiterated a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Wall Street Zen raised shares of OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Jefferies Financial Group restated a “hold” rating and set a $38.00 target price on shares of OR Royalties in a research report on Sunday, December 7th. Finally, Scotiabank raised their price target on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, OR Royalties has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

OR Royalties Stock Performance

Shares of OR opened at $40.27 on Tuesday. OR Royalties has a fifty-two week low of $18.99 and a fifty-two week high of $48.06. The business has a 50-day moving average of $41.39 and a 200 day moving average of $37.95. The firm has a market cap of $7.56 billion, a P/E ratio of 36.95 and a beta of 0.83.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $90.47 million for the quarter, compared to the consensus estimate of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. As a group, research analysts predict that OR Royalties will post 0.62 earnings per share for the current fiscal year.

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. The ex-dividend date is Tuesday, March 31st. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. OR Royalties’s dividend payout ratio (DPR) is 20.18%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FIL Ltd bought a new stake in OR Royalties during the fourth quarter worth about $29,000. Assetmark Inc. bought a new position in shares of OR Royalties during the 4th quarter valued at about $36,000. Caitlin John LLC bought a new position in shares of OR Royalties during the 3rd quarter valued at about $78,000. Allworth Financial LP raised its holdings in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after buying an additional 384 shares in the last quarter. Finally, Eagle Global Advisors LLC purchased a new position in shares of OR Royalties during the 3rd quarter valued at about $206,000. 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.