Olin (NYSE:OLN) Releases Earnings Results, Beats Expectations By $0.10 EPS

Olin (NYSE:OLN) posted its quarterly earnings data on Thursday. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10, Zacks reports. Olin had a net margin of 2.33% and a return on equity of 6.19%.

Olin Price Performance

NYSE:OLN traded down $0.58 on Thursday, reaching $32.08. The stock had a trading volume of 1,839,951 shares, compared to its average volume of 1,395,249. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.74 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. Olin has a 1-year low of $30.69 and a 1-year high of $60.60. The stock has a fifty day moving average price of $35.99 and a 200-day moving average price of $41.36.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OLN. Truist Financial started coverage on shares of Olin in a report on Tuesday. They set a “hold” rating and a $38.00 price target for the company. KeyCorp lowered their target price on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and cut their price target for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Morgan Stanley lowered their price objective on shares of Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $46.50.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Olin declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.