Olin Corp. (OLN) Stock Price Down 2.8%
Olin Corp. (NYSE:OLN)’s share price traded down 2.8% during mid-day trading on Friday . The company traded as low as $19.99 and last traded at $20.10, with a volume of 1,228,003 shares trading hands. The stock had previously closed at $20.67.
A number of equities analysts have recently issued reports on the stock. RBC Capital Markets reiterated a “buy” rating and set a $24.00 price objective (down from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Royal Bank Of Canada dropped their price objective on shares of Olin Corp. from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, July 22nd. Nomura reiterated a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, July 6th. Finally, Cowen and Company upgraded shares of Olin Corp. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $31.00 in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Olin Corp. presently has an average rating of “Buy” and a consensus target price of $23.88.
The stock has a 50-day moving average price of $23.14 and a 200-day moving average price of $19.77. The company’s market capitalization is $3.31 billion.
Olin Corp. (NYSE:OLN) last released its quarterly earnings results 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. During the same quarter last year, the business earned $0.32 earnings per share. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.47 billion. The business’s revenue for the quarter was up 154.8% on a year-over-year basis. Equities analysts expect that Olin Corp. will post $0.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Monday, August 8th.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.