Olin (NYSE:OLN) Announces Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Key Points

• Olin missed quarterly earnings and revenue expectations: The specialty chemicals company reported a loss of $0.12 per share versus the consensus estimate of $0.08 in earnings, while revenue of $1.74 billion fell short of the $1.81 billion forecast. Revenue declined 0.9% year over year.
• Shares declined 0.4% to $22.11 following the results. Olin reported a negative net margin of 1.89% and negative return on equity of 4.68%, while its debt-to-equity ratio stood at 1.73.
• Analyst sentiment remains cautious: Olin has a consensus “Hold” rating and an average price target of $26.46, with ratings spanning Strong Buy to Sell. Institutional investors own 88.67% of the company’s stock.

Olin (NYSE:OLN - Get Free Report) posted its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.20), FiscalAI reports. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative return on equity of 4.68% and a negative net margin of 1.89%.Olin's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share.

Olin Trading Down 0.4%

Shares of OLN traded down $0.08 during mid-day trading on Thursday, hitting $22.11. 2,578,224 shares of the company's stock traded hands, compared to its average volume of 2,854,892. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. Olin has a 1 year low of $18.08 and a 1 year high of $30.46. The firm has a market capitalization of $2.52 billion, a P/E ratio of -19.74 and a beta of 1.21. The business's 50-day moving average price is $22.87 and its 200-day moving average price is $24.79.

Institutional Trading of Olin

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin during the 1st quarter valued at $32,000. UMB Bank n.a. boosted its stake in shares of Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 659 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock valued at $58,000 after buying an additional 721 shares during the period. Headlands Technologies LLC increased its position in shares of Olin by 67.6% during the second quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company's stock valued at $88,000 after buying an additional 1,775 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Olin by 20.5% in the second quarter. Tower Research Capital LLC TRC now owns 7,031 shares of the specialty chemicals company's stock worth $141,000 after buying an additional 1,195 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Olin from $29.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, May 13th. Morgan Stanley upped their price target on shares of Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a report on Monday, May 11th. Royal Bank Of Canada set a $30.00 price target on shares of Olin and gave the company a "sector perform" rating in a research report on Friday, April 10th. The Goldman Sachs Group cut their price target on shares of Olin from $31.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, July 16th. Finally, Bank of America cut shares of Olin from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $32.00 to $21.00 in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $26.46.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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