Olin Corporation (OLN) Expected to Post Quarterly Sales of $1.63 Billion
Equities analysts predict that Olin Corporation (NYSE:OLN) will post sales of $1.63 billion for the current quarter, according to Zacks. Two analysts have made estimates for Olin Corporation’s earnings. The lowest sales estimate is $1.63 billion and the highest is $1.64 billion. Olin Corporation reported sales of $1.45 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.4%. The company is scheduled to announce its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Olin Corporation will report full year sales of $1.63 billion for the current year, with estimates ranging from $6.26 billion to $6.33 billion. For the next financial year, analysts forecast that the business will post sales of $6.60 billion per share, with estimates ranging from $6.44 billion to $6.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Olin Corporation.
Olin Corporation (NYSE:OLN) last released its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share.
A number of analysts have issued reports on OLN shares. Cowen and Company set a $39.00 price target on Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. BidaskClub raised Olin Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Finally, UBS AG reaffirmed a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $35.00.
In other news, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the sale, the vice president now directly owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John L. Mcintosh sold 16,070 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at $1,873,328.82. The disclosure for this sale can be found here. Insiders sold a total of 45,070 shares of company stock valued at $1,407,151 over the last three months. Company insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Russell Investments Group Ltd. purchased a new stake in Olin Corporation during the 1st quarter valued at approximately $1,398,000. World Asset Management Inc raised its stake in Olin Corporation by 1.7% during the 1st quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after acquiring an additional 168 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Olin Corporation by 41.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 137,846 shares of the specialty chemicals company’s stock valued at $4,531,000 after acquiring an additional 40,086 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Olin Corporation by 6.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after acquiring an additional 288 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Olin Corporation during the 1st quarter valued at approximately $722,000. 92.62% of the stock is owned by hedge funds and other institutional investors.
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Shares of Olin Corporation (NYSE OLN) opened at 33.78 on Friday. The firm’s 50 day moving average price is $30.85 and its 200-day moving average price is $30.94. Olin Corporation has a 1-year low of $18.40 and a 1-year high of $34.02. The company has a market capitalization of $5.62 billion, a P/E ratio of 131.44 and a beta of 1.40.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Tuesday, August 8th. Olin Corporation’s payout ratio is currently 320.00%.
Olin Corporation 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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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