Olin (OLN) Projected to Post Earnings on Thursday

Olin (NYSE:OLN) is anticipated 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. Parties that wish to register for the company’s conference call can do so using this link.

Olin Stock Down 1.5 %

Shares of NYSE:OLN opened at $32.60 on Wednesday. Olin has a 12-month low of $30.69 and a 12-month 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 fifty day simple moving average of $36.16 and a two-hundred day simple moving average of $41.42. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 0.78 and a beta of 1.48.

Olin declared that its board has authorized a share buyback plan 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 purchase up to 45% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on OLN. BMO Capital Markets reduced their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Morgan Stanley reduced their target price on shares of Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Truist Financial started coverage on shares of Olin in a report on Tuesday. They set a “hold” rating and a $38.00 price target on the stock. KeyCorp cut their target price on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.50.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

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.