Olin (NYSE:OLN) Price Target Cut to $22.00 by Analysts at UBS Group

Key Points

• UBS Group has lowered its target price for Olin (NYSE:OLN) from $23.00 to $22.00, maintaining a "neutral" rating, which indicates potential upside of only 1.06% from the stock's previous close.
• Other analysts have also reduced their price targets for Olin, with JPMorgan cutting it to $20.00 and Mizuho to $23.00, while the overall consensus price target now stands at $27.20.
• Olin's recent quarterly earnings showed a reported EPS of $0.04, surpassing analysts' estimates, along with a revenue increase to $1.64 billion.

Olin (NYSE:OLN - Free Report) had its price objective cut by UBS Group from $23.00 to $22.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Olin from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lowered their price objective on shares of Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Piper Sandler lowered their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Morgan Stanley lowered their price objective on shares of Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Finally, KeyCorp lowered their price objective on shares of Olin from $34.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $25.57.

Olin Price Performance

Shares of OLN stock traded down $2.58 on Tuesday, reaching $19.31. The company's stock had a trading volume of 4,811,216 shares, compared to its average volume of 2,508,629. The company has a quick ratio of 0.96, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. Olin has a 12-month low of $17.66 and a 12-month high of $49.60. The company has a market capitalization of $2.22 billion, a P/E ratio of -160.92 and a beta of 1.52. The stock's 50 day simple moving average is $20.63 and its 200-day simple moving average is $23.53.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the business posted $0.62 EPS. The company's quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, May 15th. Olin's dividend payout ratio (DPR) is currently 156.86%.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Olin during the 1st quarter worth $31,000. Fifth Third Bancorp boosted its stake in shares of Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 743 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Olin during the 1st quarter worth $206,000. LPL Financial LLC boosted its stake in shares of Olin by 218.9% during the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock worth $4,681,000 after acquiring an additional 95,054 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Olin during the 1st quarter worth $247,000. Institutional investors own 88.67% of the company's stock.

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.