Brokerages forecast that Olin Co. (NYSE:OLN) will announce $0.37 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Olin’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.26. Olin reported earnings per share of $0.75 in the same quarter last year, which would suggest a negative year over year growth rate of 50.7%. The company is scheduled to announce its next earnings results after the market closes on Thursday, October 31st.
According to Zacks, analysts expect that Olin will report full year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.60 to $1.13. For the next year, analysts forecast that the company will report earnings of $1.51 per share, with EPS estimates ranging from $0.75 to $2.16. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Olin.
Olin (NYSE:OLN) last posted its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Olin had a net margin of 4.06% and a return on equity of 7.82%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm posted $0.35 EPS. Olin’s revenue was down 7.8% compared to the same quarter last year.
Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Co assumed coverage on shares of Olin in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $21.00 price target for the company. JPMorgan Chase & Co. downgraded shares of Olin from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $18.00 in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price target on shares of Olin to $19.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup downgraded shares of Olin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $24.00 to $19.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Olin currently has an average rating of “Hold” and an average target price of $25.00.
NYSE OLN traded up $0.21 during mid-day trading on Tuesday, hitting $18.55. The company’s stock had a trading volume of 1,992,431 shares, compared to its average volume of 2,404,344. The company’s 50 day simple moving average is $18.23 and its 200 day simple moving average is $20.25. Olin has a twelve month low of $15.38 and a twelve month high of $27.32. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.63 and a beta of 1.58.
In other news, Director Heidi S. Alderman acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $16.69 per share, with a total value of $33,380.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $33,380. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott Mcdougald Sutton acquired 15,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $234,900.00. Following the completion of the acquisition, the director now directly owns 39,500 shares in the company, valued at $618,570. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,080 shares of company stock worth $372,710 over the last ninety days. Insiders own 1.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Olin by 99.8% in the 1st quarter. FMR LLC now owns 24,733,170 shares of the specialty chemicals company’s stock worth $572,325,000 after buying an additional 12,354,303 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Olin by 0.3% in the 2nd quarter. BlackRock Inc. now owns 19,501,090 shares of the specialty chemicals company’s stock worth $427,270,000 after buying an additional 65,169 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Olin by 1,275.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,440,543 shares of the specialty chemicals company’s stock worth $184,932,000 after buying an additional 7,826,890 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Olin by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 4,219,626 shares of the specialty chemicals company’s stock worth $92,452,000 after buying an additional 26,394 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its holdings in shares of Olin by 343.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,754,345 shares of the specialty chemicals company’s stock worth $38,438,000 after buying an additional 1,358,351 shares during the last quarter. 90.92% of the stock is currently owned by institutional investors.
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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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