Research Analysts Offer Predictions for Olin Corp.’s Q1 2017 Earnings (OLN)
Olin Corp. (NYSE:OLN) – SunTrust Banks dropped their Q1 2017 earnings per share (EPS) estimates for Olin Corp. in a note issued to investors on Monday. SunTrust Banks analyst J. Freuchtel now forecasts that the firm will post earnings per share of $0.39 for the quarter, down from their previous forecast of $0.40.
Several other equities analysts have also recently weighed in on OLN. Royal Bank Of Canada reissued an “outperform” rating and set a $28.00 price target (up from $25.00) on shares of Olin Corp. in a report on Monday, June 13th. Cowen and Company raised Olin Corp. from a “market perform” rating to an “outperform” rating and increased their price target for the company from $18.00 to $31.00 in a report on Tuesday, June 28th. Zacks Investment Research raised Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, July 6th. Nomura reissued a “buy” rating on shares of Olin Corp. in a report on Tuesday, July 12th. Finally, RBC Capital Markets reissued a “buy” rating and set a $24.00 price target (down from $28.00) on shares of Olin Corp. in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Olin Corp. presently has an average rating of “Buy” and an average target price of $22.67.
Shares of Olin Corp. (NYSE:OLN) traded down 4.01% during midday trading on Tuesday, reaching $19.88. The company’s stock had a trading volume of 755,872 shares. The company’s market cap is $3.28 billion. Olin Corp. has a 12 month low of $12.29 and a 12 month high of $26.46. The company’s 50-day moving average price is $20.25 and its 200-day moving average price is $21.37.
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Olin Corp. (NYSE:OLN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.07. Olin Corp. had a positive return on equity of 4.25% and a negative net margin of 2.05%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was up 154.8% on a year-over-year basis.
In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $21.59, for a total value of $215,900.00. Following the completion of the sale, the executive vice president now owns 60,391 shares in the company, valued at approximately $1,303,841.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Howard Hughes Medical Institute acquired a new stake in shares of Olin Corp. during the second quarter worth about $178,000. Scout Investments Inc. acquired a new stake in shares of Olin Corp. during the second quarter worth about $212,000. Quadrature Capital Ltd acquired a new stake in shares of Olin Corp. during the second quarter worth about $227,000. LS Investment Advisors LLC raised its stake in shares of Olin Corp. by 8.9% in the second quarter. LS Investment Advisors LLC now owns 9,915 shares of the company’s stock worth $246,000 after buying an additional 813 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Olin Corp. during the second quarter worth about $250,000. Institutional investors and hedge funds own 92.85% of the company’s stock.
Olin Corp. Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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