Olin (NYSE:OLN) Issues Earnings Results

Olin (NYSE:OLN) posted its quarterly earnings data on Thursday. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08), Briefing.com reports. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a return on equity of 11.58% and a net margin of 4.26%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS.

Olin Trading Down 7.2 %

Shares of NYSE OLN traded down $3.45 during midday trading on Friday, reaching $44.59. The company had a trading volume of 4,566,635 shares, compared to its average volume of 1,183,720. Olin has a one year low of $41.71 and a one year high of $60.60. The stock has a market cap of $5.32 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.44. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The firm’s fifty day moving average price is $49.67 and its 200-day moving average price is $52.72.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OLN shares. Royal Bank of Canada decreased their target price on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. UBS Group decreased their price target on shares of Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Citigroup lifted their target price on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. KeyCorp cut their price objective on shares of Olin from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler boosted their price objective on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.27.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.