OR Royalties (NYSE:OR) Downgraded by Zacks Research to Hold

Zacks Research cut shares of OR Royalties (NYSE:OR) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on OR. Jefferies Financial Group reissued a “hold” rating and set a $38.00 price target on shares of OR Royalties in a research note on Sunday, December 7th. Scotiabank upped their price objective on OR Royalties from $41.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Wall Street Zen upgraded OR Royalties from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of OR Royalties in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties Stock Up 5.5%

Shares of OR stock opened at $40.10 on Tuesday. The stock has a market cap of $7.52 billion, a P/E ratio of 36.79 and a beta of 0.83. OR Royalties has a 52 week low of $18.99 and a 52 week high of $48.06. The company’s fifty day simple moving average is $41.49 and its two-hundred day simple moving average is $37.94.

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. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. The business had revenue of $90.47 million during the quarter, compared to the consensus estimate of $90.80 million. On average, analysts anticipate that OR Royalties will post 0.62 EPS for the current fiscal year.

OR Royalties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. OR Royalties’s dividend payout ratio is 20.18%.

Institutional Investors Weigh In On OR Royalties

Several institutional investors have recently modified their holdings of OR. FIL Ltd bought a new position in shares of OR Royalties during the 4th quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in OR Royalties in the fourth quarter worth $36,000. Caitlin John LLC purchased a new position in OR Royalties during the third quarter worth $78,000. Allworth Financial LP boosted its stake in OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after buying an additional 384 shares during the period. Finally, Eagle Global Advisors LLC bought a new position in OR Royalties during the third quarter valued at $206,000. 68.52% of the stock is owned by institutional investors.

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.