Olin Corp. (OLN) Stock Price Down 2.8%
Olin Corp. (NYSE:OLN) fell 2.8% during 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 research firms have commented on OLN. Wells Fargo & Co. reiterated a “buy” rating on shares of Olin Corp. in a research report on Sunday, April 17th. Nomura reiterated a “buy” rating and issued a $27.00 price target (up previously from $20.00) on shares of Olin Corp. in a research report on Wednesday, May 4th. Royal Bank Of Canada upped their price target on Olin Corp. from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, May 4th. Zacks Investment Research lowered Olin Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st. Finally, Cowen and Company reduced their price target on Olin Corp. from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.88.
The stock’s market cap is $3.31 billion. The stock has a 50-day moving average of $23.00 and a 200 day moving average of $19.81.
Olin Corp. (NYSE:OLN) last announced 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 in the previous year, the company posted $0.32 EPS. The company earned $1.36 billion during the quarter, compared to the consensus estimate of $1.47 billion. Olin Corp.’s revenue for the quarter was up 154.8% compared to the same quarter last year. Equities research analysts expect that Olin Corp. will post $0.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, August 8th. This represents a $0.80 annualized dividend and a yield of 3.99%.
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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