FY2016 Earnings Forecast for Olin Corporation Issued By SunTrust Banks (OLN)

Olin Corporation (NYSE:OLN) – Investment analysts at SunTrust Banks lifted their FY2016 earnings per share estimates for Olin Corporation in a report released on Monday. SunTrust Banks analyst J. Freuchtel now anticipates that the brokerage will earn $1.10 per share for the year, up from their prior estimate of $1.09. SunTrust Banks also issued estimates for Olin Corporation’s Q4 2016 earnings at $0.28 EPS, Q1 2017 earnings at $0.39 EPS, Q2 2017 earnings at $0.46 EPS, Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.50 EPS and FY2017 earnings at $1.92 EPS.

Separately, Zacks Investment Research cut shares of Olin Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.67.

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Olin Corporation (NYSE:OLN) traded up 0.40% during trading on Wednesday, reaching $27.78. 902,556 shares of the company’s stock were exchanged. The company’s market cap is $4.59 billion. The stock’s 50-day moving average is $26.02 and its 200-day moving average is $22.81. Olin Corporation has a 12-month low of $12.29 and a 12-month high of $27.98.

Olin Corporation (NYSE:OLN) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.33 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.33. Olin Corporation had a negative net margin of 1.49% and a positive return on equity of 5.30%. The business earned $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Olin Corporation by 22.1% in the third quarter. Creative Planning now owns 6,084 shares of the company’s stock worth $125,000 after buying an additional 1,103 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Olin Corporation during the second quarter worth approximately $227,000. LS Investment Advisors LLC boosted its stake in Olin Corporation by 8.9% in the second quarter. LS Investment Advisors LLC now owns 9,915 shares of the company’s stock worth $246,000 after buying an additional 813 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Olin Corporation during the second quarter worth approximately $250,000. Finally, World Asset Management Inc purchased a new stake in Olin Corporation during the third quarter worth approximately $217,000. Institutional investors own 92.85% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Community Financial News and is the propert of of Community Financial News. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.com-unik.info/2017/01/11/fy2016-earnings-forecast-for-olin-corporation-issued-by-suntrust-banks-oln.html.

In other news, insider Pat D. Dawson bought 20,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average price of $22.54 per share, for a total transaction of $450,800.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

Olin Corporation Company Profile

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.

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