Royal Bank Of Canada Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN - Free Report) had its price target lowered by Royal Bank Of Canada from $25.00 to $23.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the specialty chemicals company's stock.

Several other research firms also recently weighed in on OLN. Barclays dropped their target price on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Citigroup lowered their price target on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Piper Sandler cut their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Morgan Stanley cut their target price on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Finally, Truist Financial decreased their price target on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Olin currently has a consensus rating of "Hold" and a consensus price target of $27.67.

Olin Stock Down 0.2%

Olin stock traded down $0.05 during trading on Thursday, reaching $21.92. 979,270 shares of the company's stock were exchanged, compared to its average volume of 1,695,719. Olin has a 52-week low of $17.66 and a 52-week high of $50.75. The company's 50-day moving average is $20.68 and its two-hundred day moving average is $25.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 42.98 and a beta of 1.52.

Olin (NYSE:OLN - Get Free Report) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.65%. Olin's dividend payout ratio is currently 156.86%.

Hedge Funds Weigh In On Olin

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in shares of Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Olin during the first quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin in the first quarter worth about $32,000. Allworth Financial LP increased its position in shares of Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 419 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.