Equities research analysts expect that Olin Co. (NYSE:OLN) will report sales of $1.33 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Olin’s earnings. The highest sales estimate is $1.42 billion and the lowest is $1.23 billion. Olin reported sales of $1.64 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.9%. The firm is scheduled to issue its next earnings report on Monday, February 3rd.
On average, analysts expect that Olin will report full year sales of $6.08 billion for the current fiscal year, with estimates ranging from $5.96 billion to $6.15 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.28 billion, with estimates ranging from $6.07 billion to $6.36 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Olin.
Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, October 31st. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.73 billion. Olin had a return on equity of 5.92% and a net margin of 1.87%.
A number of research analysts recently issued reports on the company. Citigroup downgraded Olin from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Wednesday, October 9th. Tudor Pickering cut Olin from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. SunTrust Banks downgraded Olin from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and set a $22.00 price target (down from $29.00) on shares of Olin in a research note on Friday, August 16th. Finally, Wells Fargo & Co started coverage on shares of Olin in a report on Tuesday, October 15th. They issued a “market perform” rating and a $21.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Olin currently has a consensus rating of “Hold” and an average price target of $23.77.
In related news, EVP John L. Mcintosh sold 9,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.86, for a total transaction of $151,740.00. Following the completion of the transaction, the executive vice president now directly owns 81,227 shares of the company’s stock, valued at $1,369,487.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Olin by 19.4% in the second quarter. Nisa Investment Advisors LLC now owns 45,000 shares of the specialty chemicals company’s stock valued at $986,000 after buying an additional 7,300 shares in the last quarter. Perella Weinberg Partners Capital Management LP acquired a new position in shares of Olin during the 2nd quarter worth about $555,000. Manning & Napier Group LLC raised its holdings in shares of Olin by 4.3% in the 2nd quarter. Manning & Napier Group LLC now owns 551,795 shares of the specialty chemicals company’s stock valued at $12,088,000 after purchasing an additional 22,856 shares during the period. Brookstone Capital Management bought a new stake in shares of Olin in the 2nd quarter valued at about $2,691,000. Finally, Arizona State Retirement System lifted its stake in Olin by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 119,652 shares of the specialty chemicals company’s stock valued at $2,622,000 after purchasing an additional 1,253 shares during the last quarter. Institutional investors own 90.31% of the company’s stock.
Shares of OLN stock traded down $0.03 on Monday, hitting $16.82. 1,214,872 shares of the stock were exchanged, compared to its average volume of 2,399,990. The company has a current ratio of 1.64, a quick ratio of 0.99 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $2.69 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 1.97 and a beta of 1.56. The business has a 50-day moving average of $18.14 and a 200 day moving average of $19.23. Olin has a fifty-two week low of $15.38 and a fifty-two week high of $27.32.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 4.76%. Olin’s payout ratio is presently 45.71%.
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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