Olin Corporation (NYSE:OLN) Stock Has Consensus Price Target of $20.64 According to Brokerages

Key Points

• Analysts are cautious on Olin: Sixteen brokerages give the stock a consensus “Reduce” rating—12 holds, three sells and one buy—with an average 12-month price target of $20.64.
• Olin’s latest quarter fell short of expectations, reporting EPS of $0.13 versus $0.15 forecast and revenue of $1.75 billion versus $1.83 billion expected. EPS was down from $0.37 a year earlier, despite revenue rising 2%.
• The company pays a quarterly dividend of $0.20, equivalent to an annualized yield of about 4.6% at the article’s stated share price.

Olin Corporation (NYSE:OLN - Get Free Report) has earned a consensus recommendation of "Reduce" from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.64.

A number of research firms recently commented on OLN. Wall Street Zen raised Olin from a "strong sell" rating to a "sell" rating in a report on Saturday. Barclays assumed coverage on shares of Olin in a report on Monday, October 12th. They set an "equal weight" rating and a $18.00 price objective for the company. The Goldman Sachs Group set a $18.00 price objective on shares of Olin in a research report on Wednesday, September 30th. Wells Fargo & Company boosted their target price on shares of Olin from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Truist Financial boosted their target price on shares of Olin from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Monday.

Institutional Trading of Olin

Several hedge funds have recently bought and sold shares of the stock. 180 Wealth Advisors LLC bought a new stake in shares of Olin in the 3rd quarter worth about $179,000. Cowa LLC grew its position in Olin by 8.1% in the third quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company's stock worth $185,000 after acquiring an additional 890 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Olin by 26.1% during the third quarter. Chicago Partners Investment Group LLC now owns 15,832 shares of the specialty chemicals company's stock worth $248,000 after acquiring an additional 3,275 shares during the last quarter. Pzena Investment Management LLC increased its stake in Olin by 2.0% during the third quarter. Pzena Investment Management LLC now owns 3,966,952 shares of the specialty chemicals company's stock worth $61,488,000 after acquiring an additional 76,748 shares during the last quarter. Finally, ARGA Investment Management LP increased its stake in Olin by 68.8% during the third quarter. ARGA Investment Management LP now owns 103,625 shares of the specialty chemicals company's stock worth $1,606,000 after acquiring an additional 42,252 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Price Performance

NYSE:OLN opened at $17.55 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. The business's 50-day simple moving average is $16.43 and its two-hundred day simple moving average is $22.22. The stock has a market cap of $2.00 billion, a PE ratio of -11.94 and a beta of 1.14. Olin has a 52 week low of $14.64 and a 52 week high of $30.46.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $0.37 EPS. The business's revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Olin will post -0.80 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Thursday, August 27th. Olin's payout ratio is currently -54.42%.

Olin Company Profile

Olin Corporation NYSE: OLN is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin's Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.

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