Olin (NYSE:OLN) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Olin (NYSE:OLN) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02), FiscalAI reports. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.83 billion.

Olin Price Performance

NYSE:OLN traded down $0.44 during mid-day trading on Thursday, hitting $16.03. The company’s stock had a trading volume of 4,835,495 shares, compared to its average volume of 3,157,294. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -13.04 and a beta of 1.23. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin has a fifty-two week low of $14.64 and a fifty-two week high of $30.46. The stock has a fifty day moving average of $16.52 and a 200-day moving average of $22.34.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.0%. Olin’s payout ratio is presently -65.04%.

Analysts Set New Price Targets

OLN has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their target price on Olin from $20.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 13th. UBS Group reduced their price objective on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. The Goldman Sachs Group set a $18.00 price objective on Olin in a research report on Wednesday, September 30th. Barclays began coverage on Olin in a report on Monday, October 12th. They set an “equal weight” rating and a $18.00 price objective on the stock. Finally, KeyCorp began coverage on Olin in a research report on Friday, September 11th. They set an “overweight” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $20.07.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.