Olin (NYSE:OLN) Releases Earnings Results, Misses Estimates By $0.02 EPS

Olin (NYSE:OLN) announced its earnings results on Thursday. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02), FiscalAI reports. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.

Olin Stock Down 2.6%

Olin stock traded down $0.44 during midday trading on Thursday, hitting $16.03. 4,835,495 shares of the company’s stock were exchanged, compared to its average volume of 3,157,294. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. The firm has a 50-day moving average of $16.52 and a two-hundred day moving average of $22.34. Olin has a 12 month low of $14.64 and a 12 month high of $30.46. The company has a market cap of $1.83 billion, a PE ratio of -13.04 and a beta of 1.23.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.0%. The ex-dividend date was Thursday, August 27th. Olin’s dividend payout ratio is presently -65.04%.

Wall Street Analyst Weigh In

OLN has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. Truist Financial decreased their price objective on shares of Olin from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. The Goldman Sachs Group set a $18.00 target price on Olin in a research report on Wednesday, September 30th. UBS Group cut their target price on Olin from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Finally, Wells Fargo & Company cut their target price on Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 1st. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $20.07.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.