$1.73 Billion in Sales Expected for Olin Co. (NYSE:OLN) This Quarter

Equities analysts predict that Olin Co. (NYSE:OLN) will announce sales of $1.73 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Olin’s earnings. The lowest sales estimate is $1.67 billion and the highest is $1.83 billion. Olin posted sales of $1.87 billion during the same quarter last year, which would indicate a negative year over year growth rate of 7.5%. The business is scheduled to issue its next earnings report after the market closes on Thursday, October 31st.

On average, analysts expect that Olin will report full-year sales of $6.43 billion for the current year, with estimates ranging from $6.35 billion to $6.61 billion. For the next year, analysts forecast that the company will post sales of $6.70 billion, with estimates ranging from $6.29 billion to $7.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Olin.

Olin (NYSE:OLN) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis.

A number of analysts have recently issued reports on the company. Bank of America reiterated a “buy” rating and set a $22.00 price target (down previously from $29.00) on shares of Olin in a research report on Friday, August 16th. Wells Fargo & Co assumed coverage on Olin in a research report on Tuesday, October 15th. They set a “market perform” rating and a $21.00 price target for the company. Barclays dropped their price target on Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada dropped their price target on Olin to $19.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $18.00 in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Olin currently has an average rating of “Hold” and an average price target of $25.00.

In related news, Director Vince J. Smith purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $17.00 per share, with a total value of $85,000.00. Following the purchase, the director now directly owns 37,304 shares of the company’s stock, valued at $634,168. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heidi S. Alderman purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $16.69 per share, for a total transaction of $33,380.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $33,380. The disclosure for this purchase can be found here. Insiders acquired a total of 23,080 shares of company stock worth $372,710 over the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Coastal Investment Advisors Inc. increased its stake in shares of Olin by 334.1% during the second quarter. Coastal Investment Advisors Inc. now owns 3,490 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 2,686 shares during the period. Prudential PLC boosted its position in shares of Olin by 10.0% during the second quarter. Prudential PLC now owns 536,300 shares of the specialty chemicals company’s stock valued at $11,750,000 after purchasing an additional 48,600 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Olin by 59.1% during the second quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 763 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Olin by 60.3% during the second quarter. Advisor Group Inc. now owns 41,526 shares of the specialty chemicals company’s stock valued at $908,000 after purchasing an additional 15,620 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Olin by 0.9% during the first quarter. Nordea Investment Management AB now owns 192,131 shares of the specialty chemicals company’s stock valued at $4,445,000 after purchasing an additional 1,733 shares in the last quarter. 90.92% of the stock is currently owned by hedge funds and other institutional investors.

NYSE OLN traded up $0.21 during trading hours on Thursday, hitting $18.55. The company had a trading volume of 1,992,431 shares, compared to its average volume of 2,404,344. Olin has a 52 week low of $15.38 and a 52 week high of $27.32. The firm has a 50 day simple moving average of $18.23 and a 200 day simple moving average of $20.25. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.63 and a beta of 1.58.

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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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