The SunTrust Banks Comments on Olin Corp.’s Q3 2016 Earnings (OLN)

The SunTrust Banks Comments on Olin Corp.’s Q3 2016 Earnings (OLN)

Olin Corp. (NYSE:OLN) – Investment analysts at SunTrust Banks lowered their Q3 2016 EPS estimates for shares of Olin Corp. in a research note issued on Monday. SunTrust Banks analyst J. Freuchtel now expects that the firm will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.37. SunTrust Banks also issued estimates for Olin Corp.’s Q4 2016 earnings at $0.43 EPS, FY2016 earnings at $1.27 EPS, Q2 2017 earnings at $0.54 EPS, Q3 2017 earnings at $0.67 EPS, Q4 2017 earnings at $0.56 EPS and FY2017 earnings at $2.17 EPS.

Other equities research analysts have also issued research reports about the company. Cowen and Company raised Olin Corp. from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $31.00 in a research report on Tuesday, June 28th. Longbow Research lowered Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research report on Wednesday, September 7th. Zacks Investment Research raised Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, July 6th. RBC Capital Markets reaffirmed a “buy” rating and set a $24.00 price target (down previously from $28.00) on shares of Olin Corp. in a research report on Friday, July 22nd. Finally, Nomura reaffirmed a “buy” rating on shares of Olin Corp. in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.67.

Olin Corp. (NYSE:OLN) opened at 20.34 on Wednesday. The firm’s 50-day moving average price is $20.18 and its 200 day moving average price is $21.36. The stock’s market cap is $3.36 billion. Olin Corp. has a 1-year low of $12.29 and a 1-year high of $26.46.

Olin Corp. (NYSE:OLN) last released its earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.07. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm earned $0.32 EPS. The company’s revenue was up 154.8% compared to the same quarter last year.

In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $21.59, for a total value of $215,900.00. Following the completion of the transaction, the executive vice president now directly owns 60,391 shares in the company, valued at $1,303,841.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Holdings LLC increased its position in Olin Corp. by 0.4% in the second quarter. Pinnacle Holdings LLC now owns 52,425 shares of the company’s stock worth $1,302,000 after buying an additional 190 shares in the last quarter. M&T Bank Corp increased its position in Olin Corp. by 0.7% in the first quarter. M&T Bank Corp now owns 35,360 shares of the company’s stock worth $614,000 after buying an additional 261 shares in the last quarter. State Treasurer State of Michigan increased its position in Olin Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 66,311 shares of the company’s stock worth $1,647,000 after buying an additional 400 shares in the last quarter. Capstone Asset Management Co. increased its position in Olin Corp. by 4.8% in the second quarter. Capstone Asset Management Co. now owns 13,395 shares of the company’s stock worth $333,000 after buying an additional 610 shares in the last quarter. Finally, Amalgamated Bank increased its position in Olin Corp. by 3.4% in the second quarter. Amalgamated Bank now owns 18,930 shares of the company’s stock worth $391,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Olin Corp. Company Profile

Related posts

Leave a Comment