$0.41 EPS Expected for Olin Co. (OLN) This Quarter
Equities analysts predict that Olin Co. (NYSE:OLN) will post earnings per share of $0.41 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Olin’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.44. Olin reported earnings per share of $0.10 in the same quarter last year, which indicates a positive year-over-year growth rate of 310%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that Olin will report full-year earnings of $0.93 per share for the current financial year, with EPS estimates ranging from $0.88 to $0.98. For the next fiscal year, analysts forecast that the business will post earnings of $2.32 per share, with EPS estimates ranging from $2.29 to $2.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Olin.
Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). Olin had a return on equity of 6.05% and a net margin of 1.29%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year.
A number of equities analysts have recently weighed in on OLN shares. BidaskClub raised Olin from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Citigroup started coverage on Olin in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target for the company. SunTrust Banks reissued a “buy” rating and issued a $44.00 price target (up from $36.00) on shares of Olin in a report on Monday, October 2nd. Zacks Investment Research cut Olin from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. Finally, Cowen reissued an “outperform” rating and issued a $42.00 price target (up from $39.00) on shares of Olin in a report on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Olin currently has a consensus rating of “Buy” and an average price target of $37.13.
In other Olin news, VP Dolores J. Ennico sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $552,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 9,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $35.42, for a total value of $336,490.00. The disclosure for this sale can be found here. Insiders sold 75,083 shares of company stock valued at $2,741,284 over the last quarter. Insiders own 2.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of OLN. Acrospire Investment Management LLC grew its position in Olin by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after acquiring an additional 3,100 shares during the period. Creative Planning grew its position in Olin by 130.8% during the second 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Olin by 9.7% during the second 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 period. Frontier Wealth Management LLC purchased a new stake in Olin during the second quarter valued at about $200,000. Finally, Neuberger Berman Group LLC purchased a new stake in Olin during the third quarter valued at about $216,000. 89.70% of the stock is owned by hedge funds and other institutional investors.
Olin (NYSE:OLN) traded up $0.02 during midday trading on Thursday, hitting $35.33. The stock had a trading volume of 966,758 shares, compared to its average volume of 2,101,519. Olin has a 12 month low of $24.93 and a 12 month high of $37.52. The firm has a market capitalization of $5,818.98, a PE ratio of 43.16, a price-to-earnings-growth ratio of 3.89 and a beta of 1.39. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.80 annualized dividend and a yield of 2.26%. Olin’s payout ratio is currently 177.78%.
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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