Origin Surges Most Since 2011 on Earnings Outlook: Dublin MoverDara Doyle
Origin Enterprises Plc, the Irish agribusiness company, climbed the most in almost two years in Dublin trading after saying it’s comfortable with analyst earnings expectations.
Origin rose as much as 10.4 percent in intraday trading, the biggest intraday gain since June 2009, and traded at 5.28 euros as of 8:37 a.m. in Dublin. Trading volume in the stock was 1.19 times the average for the past three months at 53,508 shares.
The company said today its financial position remains strong and it’s comfortable with expectations of adjusted fully diluted earnings per share for the financial year of about 48.5 cents.
“What was considered a robust model can be said to be more robust still in the context of weather conditions, especially for the U.K. arable sector,” said Cathal Kenny, an analyst at Davy, Ireland’s largest securities firm, who has an outperform rating on the stock. “There is no surprise that feed demand in