SunTrust Banks Analysts Decrease Earnings Estimates for Olin Corp. (OLN)
Olin Corp. (NYSE:OLN) – SunTrust Banks decreased their Q1 2017 earnings per share estimates for Olin Corp. in a report released on Monday. SunTrust Banks analyst J. Freuchtel now anticipates that the brokerage will post earnings per share of $0.39 for the quarter, down from their prior estimate of $0.40.
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 firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.47 billion. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The business’s revenue was up 154.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Olin Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Nomura reiterated a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. Cowen and Company dropped their target price on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, July 29th. RBC Capital Markets reiterated a “buy” rating and issued a $24.00 target price (down from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada dropped their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $22.67.
Shares of Olin Corp. (NYSE:OLN) traded down 0.49% on Tuesday, reaching $20.24. 1,033,296 shares of the company were exchanged. The firm has a 50 day moving average price of $20.18 and a 200-day moving average price of $21.36. The stock’s market capitalization is $3.34 billion. Olin Corp. has a 12-month low of $12.29 and a 12-month high of $26.46.
In related news, EVP John L. Mcintosh sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 60,391 shares in the company, valued at approximately $1,303,841.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in OLN. Creative Planning boosted 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 purchased a new stake in Olin Corp. during the second quarter valued at about $178,000. Scout Investments Inc. purchased a new stake in Olin Corp. during the second quarter valued at about $212,000. Quadrature Capital Ltd purchased a new stake in Olin Corp. during the second quarter valued at about $227,000. Finally, LS Investment Advisors LLC boosted its stake in Olin Corp. by 8.9% in the second quarter. LS Investment Advisors LLC now owns 9,915 shares of the company’s stock valued at $246,000 after buying an additional 813 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.
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.
Receive News & Ratings for Olin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.