Zacks: Analysts Anticipate Olin Co. (NYSE:OLN) to Announce $0.06 Earnings Per Share

Equities analysts predict that Olin Co. (NYSE:OLN) will post earnings of $0.06 per share for the current quarter, according to Zacks. Three analysts have made estimates for Olin’s earnings. The highest EPS estimate is $0.26 and the lowest is ($0.06). Olin reported earnings of $0.54 per share in the same quarter last year, which indicates a negative year over year growth rate of 88.9%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Olin will report full year earnings of $1.41 per share for the current financial year, with EPS estimates ranging from $0.90 to $1.76. For the next fiscal year, analysts anticipate that the business will post earnings of $2.22 per share, with EPS estimates ranging from $1.83 to $2.68. Zacks Investment Research’s earnings per share 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 Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.69 billion. Olin had a net margin of 5.14% and a return on equity of 11.12%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS.

A number of brokerages have issued reports on OLN. Alembic Global Advisors set a $95.00 target price on shares of Celanese and gave the company a “sell” rating in a research note on Monday, April 22nd. Morgan Stanley lifted their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. Nomura lowered shares of Infosys from a “neutral” rating to a “reduce” rating in a research note on Monday, April 15th. ValuEngine lowered shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Cowen reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Daseke in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Olin has a consensus rating of “Hold” and a consensus target price of $27.83.

Shares of NYSE:OLN traded down $0.27 during trading on Tuesday, reaching $21.15. 1,752,224 shares of the company traded hands, compared to its average volume of 1,854,928. The company has a fifty day simple moving average of $21.51. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 0.72 and a beta of 1.54. Olin has a 1-year low of $17.87 and a 1-year high of $32.00. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 1.08.

In related news, EVP John L. Mcintosh sold 19,335 shares of Olin stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.54, for a total value of $435,810.90. Following the transaction, the executive vice president now owns 81,477 shares in the company, valued at approximately $1,836,491.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John L. Mcintosh sold 10,500 shares of Olin stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $21.74, for a total transaction of $228,270.00. Following the completion of the transaction, the executive vice president now owns 100,812 shares in the company, valued at approximately $2,191,652.88. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Olin by 1.8% in the 1st quarter. SG Americas Securities LLC now owns 26,162 shares of the specialty chemicals company’s stock worth $605,000 after acquiring an additional 472 shares during the period. Boston Partners raised its holdings in Olin by 2.4% in the 1st quarter. Boston Partners now owns 23,008 shares of the specialty chemicals company’s stock worth $532,000 after acquiring an additional 543 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Olin by 2.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,220 shares of the specialty chemicals company’s stock worth $509,000 after acquiring an additional 545 shares during the period. Oakbrook Investments LLC raised its holdings in Olin by 3.5% in the 1st quarter. Oakbrook Investments LLC now owns 17,600 shares of the specialty chemicals company’s stock worth $407,000 after acquiring an additional 600 shares during the period. Finally, CWM LLC raised its holdings in Olin by 1,219.7% in the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 1,549 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.

See Also: How is a price target determined?

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.