Olin Co. (NYSE:OLN) Expected to Announce Quarterly Sales of $1.53 Billion

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Equities analysts expect Olin Co. (NYSE:OLN) to announce sales of $1.53 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Olin’s earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.59 billion. Olin reported sales of $1.73 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 11.6%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Olin will report full year sales of $6.53 billion for the current financial year, with estimates ranging from $6.19 billion to $6.74 billion. For the next year, analysts anticipate that the company will post sales of $6.92 billion, with estimates ranging from $6.37 billion to $7.22 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Olin.

Olin (NYSE:OLN) last announced its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). Olin had a return on equity of 11.12% and a net margin of 5.14%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the firm posted $0.12 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis.

A number of equities analysts have weighed in on OLN shares. Morgan Stanley boosted their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada dropped their target price on shares of Olin to $19.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 10th. ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Alembic Global Advisors set a $95.00 price target on shares of Celanese and gave the stock a “sell” rating in a research note on Monday, April 22nd. Finally, Nomura downgraded shares of Infosys from a “neutral” rating to a “reduce” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.83.

In other news, Director Scott Mcdougald Sutton bought 8,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $20.71 per share, with a total value of $165,680.00. Following the completion of the purchase, the director now owns 30,000 shares of the company’s stock, valued at $621,300. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John L. Mcintosh sold 19,335 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.54, for a total transaction of $435,810.90. Following the completion of the sale, the executive vice president now directly owns 81,477 shares of the company’s stock, valued at approximately $1,836,491.58. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Large investors have recently modified their holdings of the business. CWM LLC increased its stake in Olin by 1,219.7% in the first quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 1,549 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in Olin in the fourth quarter valued at approximately $50,000. First Quadrant L P CA bought a new stake in Olin in the first quarter valued at approximately $100,000. Cigna Investments Inc. New bought a new stake in Olin in the first quarter valued at approximately $200,000. Finally, ARP Americas LP bought a new stake in Olin in the first quarter valued at approximately $285,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE OLN traded down $0.27 during trading on Thursday, reaching $21.15. The company had a trading volume of 1,752,224 shares, compared to its average volume of 1,854,928. Olin has a 52 week low of $17.87 and a 52 week high of $32.00. The stock has a market cap of $3.49 billion, a PE ratio of 12.09, a PEG ratio of 0.72 and a beta of 1.54. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $21.51.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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