UBS AG Increases Olin Corp. Price Target to $25.00 (OLN)
Research analysts at UBS AG hoisted their price target on shares of Olin Corp. (NYSE:OLN) from $23.00 to $25.00 in a report released on Monday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price indicates a potential downside of 2.23% from the stock’s previous close.
Olin Corp. (NYSE:OLN) traded down 0.14% during mid-day trading on Monday, hitting $25.535. The stock had a trading volume of 223,932 shares. Olin Corp. has a 1-year low of $21.79 and a 1-year high of $29.52. The stock has a 50-day moving average of $27.56 and a 200-day moving average of $24.80. The company has a market cap of $2.027 billion and a P/E ratio of 11.57.
Olin Corp. (NYSE:OLN) last released its earnings data on Monday, January 27th. The company reported $0.31 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.31. The company had revenue of $562.10 million for the quarter, compared to the consensus estimate of $585.35 million. During the same quarter last year, the company posted $0.43 earnings per share. Olin Corp.’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Olin Corp. will post $1.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, February 6th.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of Olin Corp. from $24.00 to $28.00 in a research note to investors on Friday, December 27th. Separately, analysts at Macquarie downgraded shares of Olin Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, December 20th. Finally, analysts at Zacks upgraded shares of Olin Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 17th. They now have a $28.60 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Olin Corp. currently has a consensus rating of “Hold” and a consensus target price of $28.15.
In other Olin Corp. news, VP Gbruce Greer sold 1,918 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $25.53, for a total transaction of $48,966.54. Following the completion of the sale, the vice president now directly owns 4,252 shares of the company’s stock, valued at approximately $108,554. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Olin Corporation is a manufacturer focused in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester.
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