Brokerages forecast that Olin Co. (NYSE:OLN) will report earnings per share of $0.75 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Olin’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.79. Olin reported earnings of $0.35 per share during the same quarter last year, which would suggest a positive year over year growth rate of 114.3%. The business is scheduled to report its next earnings results on Monday, October 29th.
According to Zacks, analysts expect that Olin will report full year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.06 to $2.12. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.82 per share, with EPS estimates ranging from $2.60 to $3.22. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Olin.
Olin (NYSE:OLN) last released its earnings results on Tuesday, July 31st. The specialty chemicals company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Olin had a net margin of 9.40% and a return on equity of 8.84%.
A number of research analysts recently weighed in on the stock. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a research report on Wednesday, August 1st. Citigroup decreased their target price on shares of Olin from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, July 11th. ValuEngine downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Susquehanna Bancshares raised their target price on shares of Olin from $37.00 to $40.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.20.
Olin stock traded down $0.07 during mid-day trading on Wednesday, reaching $30.38. The company’s stock had a trading volume of 65,826 shares, compared to its average volume of 1,454,874. The company has a market cap of $4.96 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 0.56 and a beta of 1.48. Olin has a 12 month low of $27.68 and a 12 month high of $38.84. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 1.27.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, August 9th. Olin’s dividend payout ratio is currently 98.77%.
Olin announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty chemicals company to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Olin news, EVP John L. Mcintosh sold 42,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $29.98, for a total value of $1,259,160.00. Following the completion of the sale, the executive vice president now owns 97,141 shares in the company, valued at $2,912,287.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Olin by 10.5% during the 1st quarter. BlackRock Inc. now owns 18,442,401 shares of the specialty chemicals company’s stock worth $560,465,000 after buying an additional 1,753,276 shares during the last quarter. FMR LLC lifted its stake in shares of Olin by 68.3% during the 2nd quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock worth $364,736,000 after buying an additional 5,155,375 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Olin by 1.9% during the 2nd quarter. Iridian Asset Management LLC CT now owns 7,577,714 shares of the specialty chemicals company’s stock worth $217,632,000 after buying an additional 139,899 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Olin by 10.5% during the 2nd quarter. Macquarie Group Ltd. now owns 3,890,639 shares of the specialty chemicals company’s stock worth $111,739,000 after buying an additional 369,392 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Olin by 4.4% during the 1st quarter. Prudential Financial Inc. now owns 1,313,463 shares of the specialty chemicals company’s stock worth $39,916,000 after buying an additional 54,770 shares during the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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