Olin Corp. (NYSE:OLN) – Stock analysts at SunTrust Banks lowered their Q3 2016 earnings per share (EPS) estimates for shares of Olin Corp. in a research note issued to investors on Monday. SunTrust Banks analyst J. Freuchtel now forecasts that the firm will post earnings per share of $0.35 for the quarter, down from their previous estimate of $0.37. SunTrust Banks also issued estimates for Olin Corp.’s Q4 2016 earnings at $0.43 EPS, FY2016 earnings at $1.27 EPS, Q2 2017 earnings at $0.54 EPS, Q3 2017 earnings at $0.67 EPS, Q4 2017 earnings at $0.56 EPS and FY2017 earnings at $2.17 EPS.
Olin Corp. (NYSE:OLN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.07. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue was up 154.8% on a year-over-year basis.
A number of other research analysts have also recently weighed in on OLN. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, July 6th. Cowen and Company cut their price objective on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Nomura reiterated a “buy” rating on shares of Olin Corp. in a research report on Tuesday, July 12th. RBC Capital Markets reiterated a “buy” rating and set a $24.00 price objective (down previously from $28.00) on shares of Olin Corp. in a research report on Friday, July 22nd. Finally, Longbow Research cut shares of Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Olin Corp. has an average rating of “Buy” and a consensus target price of $22.67.
Olin Corp. (NYSE:OLN) opened at 20.16 on Wednesday. Olin Corp. has a 12 month low of $12.29 and a 12 month high of $26.46. The stock’s market capitalization is $3.33 billion. The company’s 50-day moving average is $20.15 and its 200-day moving average is $21.35.
Several hedge funds and other institutional investors have recently bought and sold shares of OLN. Creative Planning boosted its position in Olin Corp. 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. Howard Hughes Medical Institute acquired a new stake in Olin Corp. during the second quarter worth $178,000. Scout Investments Inc. acquired a new stake in Olin Corp. during the second quarter worth $212,000. Quadrature Capital Ltd acquired a new stake in Olin Corp. during the second quarter worth $227,000. Finally, LS Investment Advisors LLC raised its stake in Olin Corp. 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 period. Hedge funds and other institutional investors own 92.85% of the company’s stock.
In other news, EVP John L. Mcintosh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $21.59, for a total value of $215,900.00. Following the transaction, the executive vice president now directly owns 60,391 shares in the company, valued at $1,303,841.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.
Olin Corp. 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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