Wall Street analysts expect Olin Co. (NYSE:OLN) to announce $1.70 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Olin’s earnings, with estimates ranging from $1.68 billion to $1.72 billion. Olin posted sales of $1.62 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The firm is expected to report its next quarterly earnings report on Tuesday, February 5th.
On average, analysts expect that Olin will report full year sales of $7.04 billion for the current fiscal year, with estimates ranging from $6.99 billion to $7.10 billion. For the next year, analysts expect that the firm will post sales of $7.38 billion, with estimates ranging from $7.25 billion to $7.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Olin.
Olin (NYSE:OLN) last released its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.80 billion. Olin had a net margin of 11.02% and a return on equity of 10.70%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS.
OLN has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price objective on Olin to $22.00 and set a “sector perform” rating for the company in a report on Wednesday, October 31st. Zacks Investment Research downgraded Olin from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Barclays initiated coverage on Olin in a report on Monday, October 8th. They issued an “equal weight” rating and a $29.00 price objective for the company. Morgan Stanley set a $38.00 price objective on Olin and gave the company a “buy” rating in a report on Wednesday, September 26th. Finally, Citigroup dropped their price objective on Olin from $33.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Olin currently has a consensus rating of “Hold” and an average price target of $31.91.
NYSE OLN opened at $21.63 on Friday. The stock has a market capitalization of $3.53 billion, a P/E ratio of 26.70, a P/E/G ratio of 0.33 and a beta of 1.75. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 1.14. Olin has a 12 month low of $18.49 and a 12 month high of $38.84.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.70%. Olin’s payout ratio is 98.77%.
In other Olin news, SVP John Maurice Sampson bought 5,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was purchased at an average cost of $19.84 per share, with a total value of $99,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Mcdougald Sutton bought 15,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was acquired at an average cost of $21.62 per share, with a total value of $324,300.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $324,300. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 21,800 shares of company stock valued at $460,844. Insiders own 1.70% of the company’s stock.
Large investors have recently bought and sold shares of the business. Balter Liquid Alternatives LLC acquired a new position in Olin in the second quarter valued at about $154,000. Baird Financial Group Inc. acquired a new position in shares of Olin during the second quarter worth about $204,000. MML Investors Services LLC acquired a new position in shares of Olin during the third quarter worth about $210,000. Acadian Asset Management LLC acquired a new position in shares of Olin during the third quarter worth about $236,000. Finally, MAI Capital Management acquired a new position in shares of Olin during the second quarter worth about $240,000. 81.58% of the stock is owned by hedge funds and other institutional investors.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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