Olin Corporation (OLN) to Release Earnings on Monday
Olin Corporation (NYSE:OLN) is scheduled to be posting its quarterly earnings results after the market closes on Monday, October 30th. Analysts expect Olin Corporation to post earnings of $0.52 per share for the quarter.
Olin Corporation (NYSE:OLN) last released its 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). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, analysts expect Olin Corporation to post $1.02 EPS for the current fiscal year and $2.19 EPS for the next fiscal year.
Shares of Olin Corporation (OLN) opened at 35.13 on Monday. The stock has a market cap of $5.84 billion, a PE ratio of 136.69 and a beta of 1.42. The stock’s 50 day moving average is $33.96 and its 200-day moving average is $31.40. Olin Corporation has a 1-year low of $20.43 and a 1-year high of $36.84.
In other news, VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the completion of the sale, the vice president now directly owns 23,837 shares in the company, valued at $723,214.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction dated 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. Over the last quarter, insiders have sold 45,070 shares of company stock valued at $1,407,151. Insiders own 2.90% of the company’s stock.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Cowen and Company restated an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of Olin Corporation in a report on Tuesday, October 10th. SunTrust Banks, Inc. restated a “buy” rating and set a $44.00 target price (up from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. Citigroup Inc. assumed coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They set a “buy” rating and a $39.00 target price for the company. Finally, BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $36.88.
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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