Olin Corporation (NYSE:OLN) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, OLN is expected to report 3Q20 loss of $ 0.22 per share from revenue of $ 1413.00 million.
For the full year, analysts anticipate top line of $ 5521.39 million, while looking forward to loss of $ 1.46 per share bottom line.
Previous Quarter Performance
Olin Corporation unfold loss for the second quarter of $ 0.75 per share, from the revenue of $ 1,241.00 million. Wall street analysts are predicting, OLN to report 2Q20 loss of $ 0.49 per share from revenue of $ 1280.00 million. The bottom line results missed street analysts by $ 0.26 or 53.06 percent, at the same time, top line results fell short of analysts by $ 39 million or 3.05 percent.
Stock Performance
Shares of Olin Corporation traded up $ 1.07 or 6.19 percent on Tuesday, reaching $ 18.37 with volume of 4.12 million shares. Olin Corporation has traded high as $ 18.51 and has cracked $ 17.41 on the downward trend
According to the previous trading day, closing price of $ 18.37, representing a 97.49 % increase from the 52 week low of $ 8.76 and a 10.87 % decrease over the 52 week high of $ 19.41.
The company has a market capital of $ 2.90 billion and is part of the Basic Materials sector and Specialty Chemicals industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Wells Fargo & Co at Equal-Weight rating, with $ 18.00 target price.
- On 6th October 2020, maintained by Wells Fargo & Co at Equal-Weight rating, with $ 15.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.20 per share on July 30, 2020. The dividend were payable on September 10, 2020 to holders of record as of the close of business on August 10, 2020 and ex-dividend date on August 7, 2020.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
