Olin (OLN) Expected to Announce Quarterly Earnings on Thursday

Olin (NYSE:OLN) is projected to post its quarterly earnings results after the market closes on Thursday, January 30th. Analysts expect Olin to post earnings of ($0.01) per share and revenue of $1.54 billion for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Olin Price Performance

Shares of Olin stock opened at $32.60 on Wednesday. Olin has a 52 week low of $30.69 and a 52 week high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.80 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. The company’s 50-day moving average price is $36.16 and its two-hundred day moving average price is $41.42.

Olin announced that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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

Analyst Ratings Changes

OLN has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Olin from $41.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. BMO Capital Markets dropped their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Citigroup decreased their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Piper Sandler cut their target price on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, KeyCorp decreased their target price on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.50.

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.