Zacks: Analysts Anticipate Olin Corporation (OLN) Will Post Earnings of $0.43 Per Share
Equities analysts expect Olin Corporation (NYSE:OLN) to post $0.43 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Olin Corporation’s earnings, with the lowest EPS estimate coming in at $0.39 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 suggests a positive year-over-year growth rate of 30.3%. The company is scheduled to report its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that Olin Corporation will report full year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.94 to $1.05. For the next year, analysts anticipate that the company will post earnings of $1.92 per share, with EPS estimates ranging from $1.84 to $2.05. Zacks’ EPS calculations are an average based on a survey of research firms that cover Olin Corporation.
Olin Corporation (NYSE:OLN) last released its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year.
Several research analysts have recently issued reports on the company. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Cowen and Company set a $39.00 target price on Olin Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $35.00 target price on shares of Olin Corporation in a report on Tuesday, June 20th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $44.00 target price (up from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. Finally, Citigroup Inc. started coverage on Olin Corporation in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Olin Corporation presently has a consensus rating of “Hold” and a consensus target price of $36.88.
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.
Several institutional investors have recently bought and sold shares of OLN. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Olin Corporation in the 1st quarter valued at about $118,000. Acrospire Investment Management LLC lifted its holdings in shares of Olin Corporation by 238.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after purchasing an additional 3,100 shares during the last quarter. Creative Planning raised its stake in Olin Corporation by 130.8% during the 2nd quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after acquiring an additional 2,862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Olin Corporation by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 544 shares during the last quarter. Finally, Frontier Wealth Management LLC purchased a new stake in Olin Corporation during the 2nd quarter valued at approximately $200,000. 92.62% of the stock is owned by institutional investors and hedge funds.
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Olin Corporation (NYSE:OLN) traded down 0.8910% during midday trading on Wednesday, reaching $35.7288. The company’s stock had a trading volume of 70,398 shares. The stock’s 50-day moving average price is $32.97 and its 200 day moving average price is $31.24. The firm has a market capitalization of $5.94 billion, a PE ratio of 139.0226 and a beta of 1.42. Olin Corporation has a 1-year low of $19.62 and a 1-year high of $36.84.
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 2.22%. The ex-dividend date was Tuesday, August 8th. Olin Corporation’s payout ratio 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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