SunTrust Banks Analysts Decrease Earnings Estimates for Olin Corp. (OLN)
Olin Corp. (NYSE:OLN) – SunTrust Banks lowered their Q1 2017 earnings per share (EPS) estimates for shares of Olin Corp. in a research note issued on Monday. SunTrust Banks analyst J. Freuchtel now expects that the brokerage will post earnings per share of $0.39 for the quarter, down from their previous forecast of $0.40.
Olin Corp. (NYSE:OLN) last issued its quarterly earnings data 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. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.47 billion. Olin Corp. had a positive return on equity of 4.25% and a negative net margin of 2.05%. The firm’s revenue for the quarter was up 154.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share.
OLN has been the topic of several other reports. Zacks Investment Research upgraded Olin Corp. from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, October 5th. Longbow Research downgraded 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. Cowen and Company upgraded Olin Corp. from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $31.00 in a research report on Tuesday, June 28th. Royal Bank Of Canada reduced their price objective on Olin Corp. from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 22nd. Finally, RBC Capital Markets restated a “buy” rating and issued a $24.00 price objective (down from $28.00) on shares of Olin Corp. in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.67.
Shares of Olin Corp. (NYSE:OLN) traded down 0.49% during mid-day trading on Tuesday, hitting $20.24. The company had a trading volume of 1,033,296 shares. Olin Corp. has a 12 month low of $12.29 and a 12 month high of $26.46. The firm has a 50-day moving average of $20.18 and a 200-day moving average of $21.36. The company’s market cap is $3.34 billion.
Institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased 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 period. Howard Hughes Medical Institute purchased a new position in Olin Corp. during the second quarter worth approximately $178,000. Scout Investments Inc. purchased a new position in Olin Corp. during the second quarter worth approximately $212,000. Quadrature Capital Ltd purchased a new position in Olin Corp. during the second quarter worth approximately $227,000. Finally, LS Investment Advisors LLC increased its position 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. Institutional investors own 92.85% of the company’s stock.
In other news, EVP John L. Mcintosh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was 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 approximately $1,303,841.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.
About Olin Corp.
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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