Olin (OLN) Projected to Post Quarterly Earnings on Thursday

Olin (NYSE:OLN - Get Free Report) is expected to issue its quarterly earnings data after the market closes on Thursday, January 30th. Analysts expect the company to announce earnings of $0.04 per share and revenue of $1,550,077.78 billion for the quarter. Parties interested in listening to the company's conference call can do so using this link.

Olin Stock Down 0.5 %

Olin stock traded down $0.17 during midday trading on Thursday, hitting $33.40. 1,149,747 shares of the company were exchanged, compared to its average volume of 1,366,318. The company's fifty day moving average price is $36.83 and its 200-day moving average price is $41.84. The company has a market cap of $3.89 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin has a fifty-two week low of $30.69 and a fifty-two week high of $60.60.

Olin announced that its board has initiated a stock repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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 completion of the transaction, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OLN shares. KeyCorp dropped their price objective on Olin from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Morgan Stanley lowered their price target on Olin from $41.00 to $31.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Piper Sandler lowered 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. BMO Capital Markets lowered their price target on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Tuesday, October 29th. Finally, Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and lowered their price target for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Olin currently has a consensus 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.