$1.89 Billion in Sales Expected for Olin Co. (NYSE:OLN) This Quarter

Analysts expect Olin Co. (NYSE:OLN) to post sales of $1.89 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Olin’s earnings, with estimates ranging from $1.78 billion to $2.02 billion. Olin reported sales of $1.43 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 32.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, April 27th.

According to Zacks, analysts expect that Olin will report full-year sales of $7.48 billion for the current year, with estimates ranging from $6.95 billion to $7.77 billion. For the next year, analysts expect that the business will post sales of $7.56 billion, with estimates ranging from $7.16 billion to $7.87 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Olin.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 28th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Olin had a negative return on equity of 9.98% and a negative net margin of 18.47%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.46 billion.

Several analysts have recently commented on OLN shares. Royal Bank of Canada raised Olin from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $26.00 to $56.00 in a research note on Thursday, April 1st. Tudor Pickering raised shares of Olin from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, March 24th. KeyCorp boosted their price target on Olin from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup upgraded Olin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $27.00 to $50.00 in a research note on Thursday, April 15th. Finally, Wells Fargo & Company increased their price objective on shares of Olin from $39.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.80.

Shares of OLN opened at $39.50 on Wednesday. Olin has a fifty-two week low of $9.67 and a fifty-two week high of $43.32. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.60 and a quick ratio of 1.02. The company’s 50-day moving average is $37.08 and its 200-day moving average is $26.73. The firm has a market capitalization of $6.27 billion, a PE ratio of -6.14, a PEG ratio of 1.19 and a beta of 1.22.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Tuesday, March 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, March 1st. Olin’s payout ratio is currently 133.33%.

Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Olin by 12.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,300 shares of the specialty chemicals company’s stock worth $449,000 after purchasing an additional 2,070 shares in the last quarter. Norges Bank purchased a new stake in shares of Olin in the fourth quarter valued at approximately $41,772,000. Harvest Investment Services LLC bought a new position in shares of Olin during the 4th quarter worth approximately $249,000. Teacher Retirement System of Texas acquired a new stake in shares of Olin during the fourth quarter worth about $354,000. Finally, Shapiro Capital Management LLC acquired a new position in shares of Olin in the 4th quarter valued at $221,000. Institutional investors own 84.70% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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