Olin Co. (OLN) Expected to Post Quarterly Sales of $1.64 Billion

Equities analysts expect Olin Co. (NYSE:OLN) to post $1.64 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Olin’s earnings. The highest sales estimate is $1.79 billion and the lowest is $1.53 billion. Olin reported sales of $1.71 billion during the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The business is expected to report its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Olin will report full year sales of $6.94 billion for the current fiscal year, with estimates ranging from $6.75 billion to $7.10 billion. For the next fiscal year, analysts anticipate that the company will post sales of $7.26 billion, with estimates ranging from $7.03 billion to $7.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Olin.

Olin (NYSE:OLN) last released its earnings results on Monday, February 4th. The specialty chemicals company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Olin had a net margin of 4.72% and a return on equity of 10.42%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.89 earnings per share.

Several brokerages recently issued reports on OLN. ValuEngine cut Olin from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Cowen restated an “outperform” rating and set a $32.00 price objective on shares of Olin in a research note on Wednesday, February 6th. Nomura cut Olin from a “neutral” rating to a “reduce” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, January 30th. KeyCorp began coverage on Olin in a research note on Monday, January 28th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research cut Olin from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Olin currently has an average rating of “Hold” and a consensus target price of $29.27.

OLN traded up $0.50 during trading hours on Monday, hitting $23.64. 3,031,855 shares of the stock were exchanged, compared to its average volume of 2,329,736. Olin has a 12 month low of $17.87 and a 12 month high of $34.42. The stock has a market capitalization of $3.82 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.39 and a beta of 1.59. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.53 and a quick ratio of 0.89.

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 8th. Olin’s payout ratio is 45.71%.

In other Olin news, VP Brett A. Flaugher sold 12,500 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $26.53, for a total value of $331,625.00. Following the sale, the vice president now directly owns 40,629 shares in the company, valued at $1,077,887.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Lavaca Capital LLC acquired a new position in shares of Olin during the fourth quarter valued at $29,000. JOYN Advisors Inc. increased its holdings in shares of Olin by 743.3% during the fourth quarter. JOYN Advisors Inc. now owns 1,813 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,598 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in shares of Olin during the fourth quarter valued at $50,000. Pflug Koory LLC increased its holdings in shares of Olin by 29.8% during the fourth quarter. Pflug Koory LLC now owns 2,985 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 685 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Olin by 1,911.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,332,529 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 1,266,267 shares during the period. 87.30% of the stock is currently owned by 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, 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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