Analysts predict that Olin Co. (NYSE:OLN) will report $1.73 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Olin’s earnings, with the lowest sales estimate coming in at $1.67 billion and the highest estimate coming in at $1.83 billion. Olin reported sales of $1.87 billion in the same quarter last year, which would suggest a negative year over year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 31st.
According to Zacks, analysts expect that Olin will report full year sales of $6.43 billion for the current fiscal year, with estimates ranging from $6.35 billion to $6.61 billion. For the next financial year, analysts forecast that the firm will post sales of $6.70 billion, with estimates ranging from $6.29 billion to $7.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Olin.
Olin (NYSE:OLN) last posted its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.35 earnings per share. Olin’s quarterly revenue was down 7.8% on a year-over-year basis.
OLN has been the topic of a number of analyst reports. Morgan Stanley cut Olin from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $33.00 to $23.00 in a research note on Friday, July 19th. Royal Bank of Canada cut their price target on Olin to $19.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $18.00 in a research note on Thursday, October 17th. Wells Fargo & Co initiated coverage on Olin in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $21.00 price target on the stock. Finally, Citigroup cut Olin from a “buy” rating to a “neutral” rating and cut their price target for the company from $24.00 to $19.00 in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $25.00.
In other news, Director Heidi S. Alderman bought 2,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $16.69 per share, for a total transaction of $33,380.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $33,380. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Mcdougald Sutton bought 15,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $15.66 per share, for a total transaction of $234,900.00. Following the transaction, the director now directly owns 39,500 shares of the company’s stock, valued at approximately $618,570. The disclosure for this purchase can be found here. Insiders have bought 23,080 shares of company stock worth $372,710 in the last quarter. Insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of Olin during the second quarter worth about $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Olin during the second quarter worth about $35,000. Bell Rock Capital LLC purchased a new position in shares of Olin during the second quarter worth about $35,000. Advisory Services Network LLC grew its holdings in shares of Olin by 59.1% during the second quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 763 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Olin during the third quarter worth about $46,000. Institutional investors and hedge funds own 90.92% of the company’s stock.
Olin stock traded up $0.21 during midday trading on Thursday, reaching $18.55. The company’s stock had a trading volume of 1,992,431 shares, compared to its average volume of 2,404,344. Olin has a fifty-two week low of $15.38 and a fifty-two week high of $27.32. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.96 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.63 and a beta of 1.58. The business has a 50-day simple moving average of $18.23 and a 200-day simple moving average of $20.25.
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, 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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