$1.84 Billion in Sales Expected for Olin Co. (OLN) This Quarter

Equities research analysts forecast that Olin Co. (NYSE:OLN) will post $1.84 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Olin’s earnings. The lowest sales estimate is $1.80 billion and the highest is $1.89 billion. Olin reported sales of $1.55 billion during the same quarter last year, which indicates a positive year over year growth rate of 18.7%. The business is expected to report its next earnings report on Monday, October 29th.

According to Zacks, analysts expect that Olin will report full year sales of $7.04 billion for the current financial year, with estimates ranging from $7.00 billion to $7.10 billion. For the next year, analysts anticipate that the firm will report sales of $7.41 billion per share, with estimates ranging from $7.27 billion to $7.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Olin.

Olin (NYSE:OLN) last posted its earnings results on Tuesday, July 31st. The specialty chemicals company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Olin had a net margin of 9.40% and a return on equity of 8.84%.

A number of analysts recently weighed in on OLN shares. Susquehanna Bancshares raised their price target on shares of Olin from $37.00 to $40.00 and gave the company a “positive” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Olin from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a report on Wednesday, August 1st. ValuEngine raised shares of Olin from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, Citigroup lowered their price target on shares of Olin from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.20.

In other Olin news, EVP John L. Mcintosh sold 42,000 shares of Olin stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the completion of the sale, the executive vice president now owns 97,141 shares of the company’s stock, valued at approximately $2,912,287.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balter Liquid Alternatives LLC acquired a new stake in Olin during the 2nd quarter worth $154,000. Twin Tree Management LP grew its holdings in shares of Olin by 50.3% in the 1st quarter. Twin Tree Management LP now owns 6,011 shares of the specialty chemicals company’s stock valued at $183,000 after buying an additional 2,011 shares during the period. Atria Investments LLC acquired a new position in shares of Olin in the 1st quarter valued at $201,000. Baird Financial Group Inc. acquired a new position in shares of Olin in the 2nd quarter valued at $204,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Olin in the 1st quarter valued at $219,000. 87.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Olin stock traded up $0.70 during midday trading on Friday, reaching $31.40. The company had a trading volume of 68,585 shares, compared to its average volume of 1,493,647. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.80 and a quick ratio of 1.07. The firm has a market cap of $5.13 billion, a P/E ratio of 38.23, a P/E/G ratio of 0.58 and a beta of 1.48. Olin has a 1-year low of $27.68 and a 1-year high of $38.84.

Olin announced that its board has approved a share repurchase program on Tuesday, May 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, August 9th. Olin’s dividend payout ratio is presently 98.77%.

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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