Olin Corp. (OLN) Trading Down 1.5%
Olin Corp. (NYSE:OLN)’s share price dropped 1.5% during mid-day trading on Wednesday . The company traded as low as $23.52 and last traded at $23.94, with a volume of 1,021,334 shares. The stock had previously closed at $24.30.
OLN has been the subject of a number of research reports. Zacks Investment Research cut Olin Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 16th. Cowen and Company upgraded Olin Corp. from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $31.00 in a report on Tuesday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Olin Corp. in a report on Monday, June 13th. Nomura Holdings Inc. reiterated a “buy” rating and issued a $27.00 price objective (up from $20.00) on shares of Olin Corp. in a report on Wednesday, May 4th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Olin Corp. in a report on Sunday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.71.
The firm’s market capitalization is $3.97 billion. The company’s 50-day moving average price is $23.26 and its 200-day moving average price is $18.69.
Olin Corp. (NYSE:OLN) last issued its quarterly earnings data on Monday, May 2nd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.45. During the same period last year, the business earned $0.26 earnings per share. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts forecast that Olin Corp. will post $1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, May 6th.
Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid.