Olin Co. (NYSE:OLN) to Post Q3 2023 Earnings of $1.41 Per Share, Zacks Research Forecasts

Mar 09, 2023

Olin Co. (NYSE:OLN - Get Rating) - Equities researchers at Zacks Research raised their Q3 2023 earnings per share estimates for Olin in a research note issued on Thursday, June 1st. Zacks Research analyst A. Barman now forecasts that the specialty chemicals company will post earnings per share of $1.41 for the quarter, up from their previous estimate of $1.35. The consensus estimate for Olin's current full-year earnings is $5.49 per share. Zacks Research also issued estimates for Olin's FY2023 earnings at $5.20 EPS, Q3 2024 earnings at $1.61 EPS and FY2024 earnings at $5.92 EPS.

Other research analysts have also issued research reports about the stock. Piper Sandler lowered their price objective on shares of Olin from $83.00 to $80.00 in a research note on Tuesday, May 2nd. StockNews.com downgraded shares of Olin from a "buy" rating to a "hold" rating in a research note on Friday, May 26th. Royal Bank of Canada lifted their price target on shares of Olin from $74.00 to $76.00 in a research note on Monday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Olin from $89.00 to $90.00 in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Olin presently has an average rating of "Moderate Buy" and an average target price of $67.67.

NYSE OLN opened at $51.35 on Monday. Olin has a twelve month low of $41.33 and a twelve month high of $66.53. The stock has a market cap of $6.64 billion, a PE ratio of 6.82, a P/E/G ratio of 0.93 and a beta of 1.45. The stock has a fifty day simple moving average of $54.20 and a 200-day simple moving average of $55.74. The company has a current ratio of 1.60, a quick ratio of 0.84 and a debt-to-equity ratio of 1.09.

Olin (NYSE:OLN - Get Rating) last posted its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). Olin had a net margin of 12.45% and a return on equity of 42.24%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business posted $2.48 EPS. Olin's revenue for the quarter was down 25.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in OLN. HighTower Advisors LLC lifted its holdings in Olin by 10.4% in the 1st quarter. HighTower Advisors LLC now owns 7,760 shares of the specialty chemicals company's stock valued at $407,000 after purchasing an additional 728 shares in the last quarter. Private Advisor Group LLC purchased a new position in Olin in the 1st quarter valued at about $230,000. Acadian Asset Management LLC purchased a new position in Olin in the 1st quarter valued at about $53,000. Great West Life Assurance Co. Can lifted its holdings in Olin by 8.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 82,375 shares of the specialty chemicals company's stock valued at $4,437,000 after purchasing an additional 6,589 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Olin by 5.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company's stock valued at $246,000 after purchasing an additional 259 shares in the last quarter. 85.77% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Thursday, May 11th will be given a $0.20 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. Olin's dividend payout ratio is presently 10.62%.

Olin Corp. engages in manufacturing of chemicals products. It operates through the following 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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