Olin Co. (NYSE:OLN) Expected to Announce Quarterly Sales of $2.35 Billion

Equities analysts expect Olin Co. (NYSE:OLN – Get Rating) to announce $2.35 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Olin’s earnings, with estimates ranging from $2.26 billion to $2.45 billion. Olin posted sales of $1.92 billion in the same quarter last year, which would indicate a positive year over year growth rate of 22.4%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Olin will report full year sales of $9.45 billion for the current fiscal year, with estimates ranging from $9.27 billion to $9.59 billion. For the next year, analysts anticipate that the firm will report sales of $9.15 billion, with estimates ranging from $8.79 billion to $9.33 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Olin.

Olin (NYSE:OLN – Get Rating) last released its earnings results on Thursday, January 27th. The specialty chemicals company reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.53 by ($0.12). The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Olin had a net margin of 14.55% and a return on equity of 59.61%. The business’s revenue was up 46.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS.

Several equities research analysts recently commented on OLN shares. UBS Group increased their price target on Olin from $69.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, January 4th. Zacks Investment Research cut Olin from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a report on Monday, January 3rd. Morgan Stanley cut their price target on Olin from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, January 11th. StockNews.com upgraded Olin from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 22nd. Finally, KeyCorp boosted their price objective on shares of Olin from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $69.92.

NYSE OLN opened at $53.26 on Friday. Olin has a 1-year low of $39.90 and a 1-year high of $64.76. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market cap of $8.21 billion, a PE ratio of 6.70 and a beta of 1.37. The stock’s 50 day simple moving average is $52.46 and its 200-day simple moving average is $54.14.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 11th. Stockholders of record on Friday, March 4th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Thursday, March 3rd. Olin’s dividend payout ratio is presently 10.06%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Naples Global Advisors LLC boosted its holdings in Olin by 7.9% in the first quarter. Naples Global Advisors LLC now owns 7,540 shares of the specialty chemicals company’s stock valued at $394,000 after purchasing an additional 550 shares in the last quarter. Islay Capital Management LLC acquired a new position in Olin in the first quarter valued at approximately $110,000. Viking Fund Management LLC boosted its holdings in Olin by 125.8% in the first quarter. Viking Fund Management LLC now owns 70,000 shares of the specialty chemicals company’s stock valued at $3,660,000 after purchasing an additional 39,000 shares in the last quarter. Cyrus J. Lawrence LLC acquired a new position in Olin in the first quarter valued at approximately $44,000. Finally, Dorsey Wright & Associates boosted its holdings in shares of Olin by 1.1% in the first quarter. Dorsey Wright & Associates now owns 111,118 shares of the specialty chemicals company’s stock valued at $5,809,000 after acquiring an additional 1,211 shares during the period. 85.14% of the stock is owned by hedge funds and other institutional investors.

About Olin (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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