Olin Co. (NYSE:OLN) Expected to Announce Earnings of $0.37 Per Share

Equities research analysts expect Olin Co. (NYSE:OLN) to post earnings per share of $0.37 for the current quarter, Zacks reports. Three analysts have made estimates for Olin’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.43. Olin reported earnings per share of $0.75 in the same quarter last year, which suggests a negative year-over-year growth rate of 50.7%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that Olin will report full-year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.60 to $1.13. For the next year, analysts forecast that the business will report earnings of $1.51 per share, with EPS estimates ranging from $0.75 to $2.16. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Olin.

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

A number of equities research analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Olin to $19.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lowered Olin from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $18.00 in a research report on Thursday, October 17th. Wells Fargo & Co began coverage on Olin in a research report on Tuesday, October 15th. They set a “market perform” rating and a $21.00 target price for the company. Barclays reduced 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. Finally, Bank of America reissued a “buy” rating and issued a $22.00 price target (down from $29.00) on shares of Olin in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Olin presently has an average rating of “Hold” and an average target price of $25.00.

NYSE OLN traded up $0.21 on Tuesday, reaching $18.55. 1,992,431 shares of the stock traded hands, compared to its average volume of 2,404,344. 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 company has a fifty day moving average price of $18.23 and a 200-day moving average price of $20.25. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.63 and a beta of 1.58. Olin has a 12 month low of $15.38 and a 12 month high of $27.32.

In other Olin news, Director Vince J. Smith bought 5,000 shares of Olin stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $17.00 per share, with a total value of $85,000.00. Following the transaction, the director now directly owns 37,304 shares of the company’s stock, valued at approximately $634,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Mcdougald Sutton bought 15,000 shares of Olin stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $234,900.00. Following the completion of the transaction, the director now directly owns 39,500 shares in the company, valued at $618,570. The disclosure for this purchase can be found here. Over the last three months, insiders bought 23,080 shares of company stock valued at $372,710. Corporate insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in OLN. Stonebridge Capital Advisors LLC purchased a new stake in Olin during the 2nd quarter valued at about $33,000. Steward Partners Investment Advisory LLC purchased a new stake in Olin during the 2nd quarter valued at about $35,000. Bell Rock Capital LLC purchased a new stake in Olin during the 2nd quarter valued at about $35,000. Advisory Services Network LLC grew its stake in Olin by 59.1% during the 2nd 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 during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Olin during the 3rd quarter valued at about $46,000. 90.92% 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.

Recommended Story: How to invest using market indexes

Get a free copy of the Zacks research report on Olin (OLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Olin (NYSE:OLN)

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.