Brokerages Expect Olin Co. (OLN) to Announce $0.74 EPS

Analysts expect Olin Co. (NYSE:OLN) to announce $0.74 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Olin’s earnings, with estimates ranging from $0.71 to $0.77. Olin posted earnings of $0.35 per share in the same quarter last year, which suggests a positive year over year growth rate of 111.4%. The company is scheduled to report its next earnings report after the market closes on Monday, October 29th.

On average, analysts expect that Olin will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $1.97 to $2.12. For the next fiscal year, analysts anticipate that the company will report earnings of $2.77 per share, with EPS estimates ranging from $2.52 to $3.22. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Olin.

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

Several analysts have weighed in on the company. TheStreet raised Olin from a “c+” rating to a “b” rating in a report on Wednesday, August 1st. Cowen raised their price target on Olin from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, August 6th. Standpoint Research started coverage on Olin in a report on Tuesday, August 28th. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research lowered Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Citigroup reduced their price objective on Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.89.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in Olin by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 65,437 shares of the specialty chemicals company’s stock worth $1,879,000 after acquiring an additional 1,880 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Olin by 16.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,595 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 2,043 shares during the last quarter. Vident Investment Advisory LLC grew its position in Olin by 6.1% during the 2nd quarter. Vident Investment Advisory LLC now owns 36,622 shares of the specialty chemicals company’s stock worth $1,052,000 after acquiring an additional 2,105 shares during the last quarter. JPMorgan Chase & Co. grew its position in Olin by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 446,377 shares of the specialty chemicals company’s stock worth $13,565,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Aperio Group LLC grew its position in Olin by 7.0% during the 2nd quarter. Aperio Group LLC now owns 36,416 shares of the specialty chemicals company’s stock worth $1,046,000 after acquiring an additional 2,385 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

Shares of NYSE:OLN traded down $0.16 on Friday, hitting $22.39. The company’s stock had a trading volume of 1,584,500 shares, compared to its average volume of 2,037,821. Olin has a 1 year low of $22.26 and a 1 year high of $38.84. The stock has a market cap of $3.84 billion, a P/E ratio of 27.99 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.80 and a debt-to-equity ratio of 1.27.

About Olin

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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