Zacks: Analysts Anticipate Olin Co. (NYSE:OLN) Will Announce Quarterly Sales of $2.46 Billion

Equities research analysts predict that Olin Co. (NYSE:OLNGet Rating) will post sales of $2.46 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Olin’s earnings, with the highest sales estimate coming in at $2.54 billion and the lowest estimate coming in at $2.43 billion. Olin posted sales of $2.22 billion during the same quarter last year, which would indicate a positive year over year growth rate of 10.8%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Olin will report full year sales of $9.52 billion for the current fiscal year, with estimates ranging from $9.27 billion to $9.73 billion. For the next year, analysts forecast that the firm will post sales of $9.17 billion, with estimates ranging from $8.78 billion to $9.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Olin.

Olin (NYSE:OLNGet Rating) last released its quarterly earnings data on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.15. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Olin had a net margin of 15.30% and a return on equity of 58.94%.

OLN has been the topic of several research analyst reports. KeyCorp lifted their price target on shares of Olin from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 5th. Barclays lifted their price objective on shares of Olin from $57.00 to $65.00 in a research note on Monday, May 2nd. Citigroup lifted their price objective on shares of Olin from $65.00 to $74.00 in a research note on Monday, May 2nd. Royal Bank of Canada lifted their price objective on shares of Olin from $76.00 to $83.00 in a research note on Monday, May 2nd. Finally, StockNews.com lowered shares of Olin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 30th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Olin has a consensus rating of “Buy” and an average target price of $71.00.

Shares of NYSE:OLN opened at $63.31 on Friday. The company’s fifty day moving average price is $56.44 and its 200 day moving average price is $55.00. Olin has a 12 month low of $39.90 and a 12 month high of $65.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.49 and a quick ratio of 0.94. The firm has a market capitalization of $9.61 billion, a P/E ratio of 7.10 and a beta of 1.20.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Olin’s dividend payout ratio (DPR) is 8.97%.

In related news, Director C Robert Bunch sold 43,293 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $65.02, for a total transaction of $2,814,910.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brett A. Flaugher sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $62.30, for a total transaction of $560,700.00. Following the completion of the sale, the vice president now directly owns 43,628 shares in the company, valued at approximately $2,718,024.40. The disclosure for this sale can be found here. Insiders own 9.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. JPMorgan Chase & Co. lifted its holdings in shares of Olin by 1,052.8% in the fourth quarter. JPMorgan Chase & Co. now owns 4,249,478 shares of the specialty chemicals company’s stock valued at $244,430,000 after purchasing an additional 3,880,863 shares in the last quarter. Norges Bank purchased a new stake in shares of Olin in the fourth quarter valued at about $86,053,000. Invesco Ltd. lifted its holdings in shares of Olin by 37.3% in the fourth quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock valued at $252,618,000 after purchasing an additional 1,193,359 shares in the last quarter. Marshall Wace LLP raised its position in shares of Olin by 1,350.2% in the fourth quarter. Marshall Wace LLP now owns 1,147,699 shares of the specialty chemicals company’s stock valued at $66,015,000 after buying an additional 1,068,558 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Olin by 158.5% in the third quarter. Millennium Management LLC now owns 1,528,577 shares of the specialty chemicals company’s stock valued at $73,754,000 after buying an additional 937,229 shares during the last quarter. 81.79% of the stock is currently owned by 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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