Olin Co. (OLN) Expected to Post Earnings of $0.75 Per Share

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Brokerages expect Olin Co. (NYSE:OLN) to post $0.75 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Olin’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.71. Olin reported earnings per share of $0.35 in the same quarter last year, which suggests a positive year-over-year growth rate of 114.3%. The company is expected to issue its next quarterly earnings results on Monday, October 29th.

According to Zacks, analysts expect that Olin will report full-year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.12. For the next fiscal year, analysts expect that the business will report earnings of $2.82 per share, with EPS estimates ranging from $2.60 to $3.22. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Olin.

Olin (NYSE:OLN) last issued its quarterly earnings data on Tuesday, July 31st. The specialty chemicals company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.15. Olin had a return on equity of 8.84% and a net margin of 9.40%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion.

OLN has been the subject of several research reports. Cowen lifted their target price on Olin from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. TheStreet raised Olin from a “c+” rating to a “b” rating in a research note on Wednesday, August 1st. Susquehanna Bancshares lifted their target price on Olin from $37.00 to $40.00 and gave the company a “positive” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut Olin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Finally, Citigroup lowered their target price on Olin from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Olin has a consensus rating of “Hold” and an average price target of $38.20.

In related news, EVP John L. Mcintosh sold 42,000 shares of Olin stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the completion of the sale, the executive vice president now directly owns 97,141 shares of the company’s stock, valued at $2,912,287.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in OLN. Two Sigma Advisers LP acquired a new stake in shares of Olin during the fourth quarter worth $452,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Olin during the fourth quarter worth $201,000. Manning & Napier Group LLC acquired a new stake in shares of Olin during the first quarter worth $24,199,000. Atria Investments LLC acquired a new stake in shares of Olin during the first quarter worth $201,000. Finally, Mackay Shields LLC acquired a new stake in shares of Olin during the first quarter worth $13,649,000. 85.84% of the stock is owned by institutional investors and hedge funds.

Olin traded down $0.82, hitting $29.51, during trading on Friday, according to Marketbeat. The company’s stock had a trading volume of 896,232 shares, compared to its average volume of 1,563,532. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.07 and a current ratio of 1.80. Olin has a 12 month low of $27.68 and a 12 month high of $38.84. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 0.57 and a beta of 1.48.

Olin announced that its Board of Directors has approved a share repurchase program on Tuesday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.71%. Olin’s dividend payout ratio (DPR) is presently 98.77%.

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, and potassium hydroxide.

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