Olin (NYSE:OLN) Posts Earnings Results, Misses Estimates By $0.08 EPS

Olin (NYSE:OLN) announced its quarterly earnings results on Thursday. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08), Briefing.com reports. Olin had a net margin of 5.32% and a return on equity of 14.47%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. The company’s revenue was down 3.5% compared to the same quarter last year.

Olin Stock Performance

Shares of OLN stock traded down $3.42 on Friday, hitting $44.62. The company had a trading volume of 4,566,630 shares, compared to its average volume of 1,075,381. The firm has a market cap of $5.33 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The company has a 50-day moving average price of $49.67 and a 200-day moving average price of $52.72. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. Olin has a twelve month low of $41.71 and a twelve month high of $60.60.

Analyst Ratings Changes

OLN has been the topic of a number of analyst reports. KeyCorp cut their price target on Olin from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Bank of America dropped their target price on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Barclays boosted their target price on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Piper Sandler boosted their target price on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Citigroup boosted their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.27.

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.