SunTrust Banks Comments on Olin Corp.’s Q3 2016 Earnings (OLN)
Olin Corp. (NYSE:OLN) – Stock analysts at SunTrust Banks decreased their Q3 2016 earnings per share (EPS) estimates for Olin Corp. in a research note issued on Monday. SunTrust Banks analyst J. Freuchtel now expects that the brokerage will earn $0.35 per share for the quarter, down from their prior forecast 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.
A number of other brokerages have also weighed in on OLN. Zacks Investment Research lowered shares of Olin Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 31st. Royal Bank Of Canada decreased their price objective on shares of Olin Corp. from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, July 22nd. Nomura restated a “buy” rating on shares of Olin Corp. in a report on Tuesday, July 12th. Cowen and Company decreased their price objective on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, July 29th. 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 report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Olin Corp. currently has an average rating of “Buy” and a consensus price target of $22.67.
Olin Corp. (NYSE:OLN) opened at 20.34 on Wednesday. The stock has a 50 day moving average price of $20.18 and a 200-day moving average price of $21.36. Olin Corp. has a 52 week low of $12.29 and a 52 week high of $26.46. The firm’s market capitalization is $3.36 billion.
Olin Corp. (NYSE:OLN) last announced 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 earned $1.36 billion during the quarter, compared to analyst estimates of $1.47 billion. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The firm’s revenue for the quarter was up 154.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share.
In other news, EVP John L. Mcintosh sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $21.59, for a total transaction of $215,900.00. Following the completion of the sale, the executive vice president now owns 60,391 shares of the company’s stock, valued at approximately $1,303,841.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.
Several large investors have recently modified their holdings of OLN. Creative Planning increased its stake in shares of 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 shares of Olin Corp. during the second quarter worth about $178,000. Scout Investments Inc. acquired a new stake in shares of Olin Corp. during the second quarter worth about $212,000. Quadrature Capital Ltd acquired a new stake in shares of Olin Corp. during the second quarter worth about $227,000. Finally, LS Investment Advisors LLC increased its stake in shares of 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 last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.
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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