Equities analysts forecast that Olin Corporation (NYSE:OLN) will announce sales of $1.50 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Olin Corporation’s earnings, with estimates ranging from $1.47 billion to $1.54 billion. Olin Corporation posted sales of $1.36 billion during the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, July 31st.
On average, analysts expect that Olin Corporation will report full-year sales of $1.50 billion for the current fiscal year, with estimates ranging from $6.18 billion to $6.35 billion. For the next financial year, analysts anticipate that the business will report sales of $6.58 billion per share, with estimates ranging from $6.31 billion to $6.85 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Olin Corporation.
Olin Corporation (NYSE:OLN) last released its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion.
OLN has been the topic of several research reports. BidaskClub upgraded Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Royal Bank of Canada restated a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Tudor Pickering initiated coverage on Olin Corporation in a report on Friday, May 12th. They set a “buy” rating and a $37.00 price target on the stock. Cowen and Company restated an “outperform” rating and set a $39.00 price target (up from $37.00) on shares of Olin Corporation in a report on Thursday, June 22nd. Finally, Bank of America Corporation initiated coverage on Olin Corporation in a report on Monday, May 8th. They set a “buy” rating and a $40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Olin Corporation presently has an average rating of “Buy” and a consensus target price of $33.14.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock valued at $653,967,000 after buying an additional 19,637,387 shares during the period. Vanguard Group Inc. boosted its stake in Olin Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 14,410,405 shares of the specialty chemicals company’s stock valued at $473,671,000 after buying an additional 878,440 shares during the period. Bank of New York Mellon Corp boosted its stake in Olin Corporation by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 3,176,770 shares of the specialty chemicals company’s stock valued at $104,421,000 after buying an additional 1,083,395 shares during the period. Macquarie Group Ltd. boosted its stake in Olin Corporation by 5.0% in the first quarter. Macquarie Group Ltd. now owns 3,051,997 shares of the specialty chemicals company’s stock valued at $100,319,000 after buying an additional 145,929 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Olin Corporation by 4.0% in the first quarter. Ameriprise Financial Inc. now owns 2,146,387 shares of the specialty chemicals company’s stock valued at $70,552,000 after buying an additional 83,276 shares during the period. Institutional investors own 93.02% of the company’s stock.
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Olin Corporation (OLN) traded down 0.30% on Friday, reaching $30.01. 1,629,919 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $30.00 and its 200 day moving average is $29.84. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 104.56 and a beta of 1.44. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88.
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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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