Olin (OLN) to Release Quarterly Earnings on Thursday

Olin (NYSE:OLN) is expected to be releasing its earnings data after the market closes on Thursday, January 30th. Analysts expect Olin to post earnings of $0.04 per share and revenue of $1,550,077.78 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Olin Stock Up 1.0 %

Shares of Olin stock opened at $33.07 on Tuesday. Olin has a 12-month low of $30.69 and a 12-month high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average price of $36.49 and a two-hundred day moving average price of $41.63. The stock has a market capitalization of $3.86 billion, a P/E ratio of 26.67, a PEG ratio of 0.78 and a beta of 1.48.

Olin announced that its board has initiated a stock buyback program on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OLN has been the topic of several recent analyst reports. Barclays dropped their target price on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. BMO Capital Markets cut their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Citigroup lowered their target price on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Piper Sandler cut their price target on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.07.

About Olin

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.