Olin Corp. Price Target Cut to $24.00 (OLN)
Equities research analysts at Susquehanna decreased their target price on shares of Olin Corp. (NYSE:OLN) from $27.00 to $24.00 in a research note issued to investors on Thursday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price would suggest a potential upside of 6.62% from the company’s current price.
Shares of Olin Corp. (NYSE:OLN) traded down 0.75% during mid-day trading on Thursday, hitting $22.51. 1,687,181 shares of the company’s stock traded hands. Olin Corp. has a 1-year low of $19.50 and a 1-year high of $26.05. The stock has a 50-day moving average of $22.84 and a 200-day moving average of $23.79. The company has a market cap of $1.801 billion and a P/E ratio of 12.45.
Olin Corp. (NYSE:OLN) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.19. The company had revenue of $670.70 million for the quarter, compared to the consensus estimate of $679.10 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Olin Corp. will post $2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, November 7th.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their price target on shares of Olin Corp. from $25.00 to $23.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Analysts at Zacks downgraded shares of Olin Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, October 22nd. They now have a $21.60 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Olin Corp. presently has an average rating of “Hold” and an average target price of $24.02.
Olin Corporation is a manufacturer focused in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester.
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