FY2020 Earnings Forecast for Olin Co. Issued By KeyCorp (NYSE:OLN)

Olin Co. (NYSE:OLN) – Equities research analysts at KeyCorp issued their FY2020 earnings per share estimates for Olin in a report issued on Tuesday, April 9th, Zacks Investment Research reports. KeyCorp analyst M. Sison expects that the specialty chemicals company will post earnings per share of $2.20 for the year. KeyCorp currently has a “Overweight” rating and a $30.00 target price on the stock.

A number of other equities research analysts also recently commented on OLN. ValuEngine downgraded Olin from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Zacks Investment Research raised Olin from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Alembic Global Advisors assumed coverage on Olin in a research report on Monday, April 22nd. They issued a “buy” rating and a $32.00 price objective for the company. Cowen reissued an “outperform” rating and set a $32.00 price target on shares of Olin in a research report on Wednesday, February 6th. Finally, Nomura downgraded Olin from a “neutral” rating to a “reduce” rating and lowered their price target for the company from $23.00 to $22.00 in a research report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Olin currently has an average rating of “Hold” and an average target price of $29.75.

Shares of NYSE:OLN traded up $0.70 during midday trading on Thursday, reaching $21.34. The company’s stock had a trading volume of 1,879,247 shares, compared to its average volume of 2,224,958. The company has a market cap of $3.52 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.36 and a beta of 1.53. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.10. Olin has a 1 year low of $17.87 and a 1 year high of $34.42.

Olin (NYSE:OLN) last released its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.69 billion. Olin had a return on equity of 11.11% and a net margin of 5.14%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 9th. Olin’s dividend payout ratio is presently 45.71%.

In other Olin news, VP Brett A. Flaugher sold 12,500 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $26.53, for a total transaction of $331,625.00. Following the transaction, the vice president now owns 40,629 shares in the company, valued at $1,077,887.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Olin by 34.8% in the fourth quarter. FMR LLC now owns 12,378,867 shares of the specialty chemicals company’s stock worth $248,939,000 after acquiring an additional 3,196,273 shares in the last quarter. Norges Bank acquired a new position in shares of Olin in the fourth quarter worth about $39,321,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Olin by 1,911.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,332,529 shares of the specialty chemicals company’s stock worth $66,000 after acquiring an additional 1,266,267 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Olin in the fourth quarter worth about $20,040,000. Finally, Beaconlight Capital LLC acquired a new position in shares of Olin in the fourth quarter worth about $18,771,000. Institutional investors own 87.53% of the company’s stock.

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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