Analysts Anticipate Olin Co. (OLN) to Announce $0.75 EPS

Equities analysts predict that Olin Co. (NYSE:OLN) will announce earnings per share of $0.75 for the current quarter, according to Zacks. Two analysts have issued estimates for Olin’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.79. Olin reported earnings of $0.35 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 114.3%. The firm is expected to report its next earnings results on Monday, October 29th.

On average, analysts expect that Olin will report full-year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.06 to $2.12. For the next fiscal year, analysts expect that the firm will report earnings of $2.82 per share, with EPS estimates ranging from $2.60 to $3.22. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Olin.

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

Several research analysts have recently issued reports on the stock. Cowen upped their target price on shares of Olin from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, August 6th. TheStreet upgraded shares of Olin from a “c+” rating to a “b” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Olin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Citigroup dropped their target price on shares of Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, July 11th. Finally, Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $38.85 to $27.79 in a research note on Monday, June 11th. Two investment 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. The stock currently has an average rating of “Hold” and an average target price of $38.20.

In related news, EVP John L. Mcintosh sold 42,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the transaction, the executive vice president now owns 97,141 shares in the company, 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 corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Two Sigma Advisers LP purchased a new stake in Olin during the fourth quarter valued at approximately $452,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Olin during the fourth quarter valued at approximately $201,000. Manning & Napier Group LLC purchased a new stake in Olin during the first quarter valued at approximately $24,199,000. Atria Investments LLC purchased a new stake in Olin during the first quarter valued at approximately $201,000. Finally, Mackay Shields LLC purchased a new stake in Olin during the first quarter valued at approximately $13,649,000. Institutional investors own 85.84% of the company’s stock.

Shares of NYSE OLN traded down $0.82 during midday trading on Friday, hitting $29.51. The stock had a trading volume of 896,232 shares, compared to its average volume of 1,563,532. The company has a market cap of $5.07 billion, a PE ratio of 36.43, a P/E/G ratio of 0.57 and a beta of 1.48. Olin has a 52 week low of $27.68 and a 52 week high of $38.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.07 and a current ratio of 1.80.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. Olin’s dividend payout ratio is presently 98.77%.

Olin declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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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Earnings History and Estimates for Olin (NYSE:OLN)

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