$0.44 EPS Expected for Olin Corporation (OLN) This Quarter
Wall Street brokerages predict that Olin Corporation (NYSE:OLN) will report earnings per share (EPS) of $0.44 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Olin Corporation’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.47. Olin Corporation reported earnings per share of $0.33 during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The business is expected to issue its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Olin Corporation will report full year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.03 to $1.83. For the next financial year, analysts expect that the company will report earnings of $2.06 per share, with EPS estimates ranging from $1.84 to $2.28. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Olin Corporation.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. Olin Corporation’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS.
A number of research firms have recently commented on OLN. BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS AG restated a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Royal Bank Of Canada restated a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a research note on Tuesday, June 20th. Cowen and Company set a $39.00 price objective on shares of Olin Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Tudor Pickering began coverage on shares of Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $32.75.
In other Olin Corporation news, EVP John L. Mcintosh sold 16,070 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total transaction of $498,491.40. Following the completion of the sale, the executive vice president now directly owns 60,391 shares in the company, valued at $1,873,328.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of Olin Corporation by 2.4% in the first quarter. Bank of Montreal Can now owns 142,661 shares of the specialty chemicals company’s stock valued at $4,689,000 after buying an additional 3,382 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Olin Corporation by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 41,800 shares of the specialty chemicals company’s stock valued at $1,374,000 after buying an additional 900 shares during the period. Reliance Trust Co. of Delaware bought a new stake in shares of Olin Corporation during the first quarter valued at about $362,000. Bollard Group LLC increased its stake in shares of Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Olin Corporation during the first quarter valued at about $32,179,000. Hedge funds and other institutional investors own 93.02% of the company’s stock.
Olin Corporation (NYSE:OLN) traded down 0.43% during mid-day trading on Wednesday, reaching $30.37. The company had a trading volume of 616,402 shares. Olin Corporation has a 12 month low of $18.24 and a 12 month high of $33.88. The firm’s 50-day moving average price is $30.41 and its 200-day moving average price is $30.80. The stock has a market cap of $5.05 billion, a PE ratio of 118.17 and a beta of 1.43.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.62%. Olin Corporation’s dividend payout ratio (DPR) is currently 320.00%.
About Olin Corporation
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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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