Latest Stocks: Tudor Pickering Initiates Coverage on Olin Co. (OLN)

Latest Stocks: Tudor Pickering Initiates Coverage on Olin Co. (OLN)

Equities researchers at Tudor Pickering initiated coverage on shares of Olin Co. (NYSE:OLN) in a report issued on Friday, May 12th. The brokerage set a “buy” rating and a $37.00 price target on the specialty chemicals company’s stock. Tudor Pickering’s target price indicates a potential upside of 27.63% from the stock’s current price.

Several other brokerages have also issued reports on OLN. Zacks Investment Research lowered shares of Olin from a “buy” rating to a “sell” rating in a report on Tuesday, March 14th. Bank of America Corp assumed coverage on shares of Olin in a report on Monday, May 8th. They set a “buy” rating and a $40.00 price objective on the stock. Monness Crespi & Hardt lowered shares of Olin from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Longbow Research raised shares of Olin from an “underperform” rating to a “neutral” rating in a report on Thursday, February 2nd. Finally, Cowen and Company lifted their price target on shares of Olin from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.86.

Shares of Olin (NYSE OLN) opened at 28.99 on Friday. The stock has a market cap of $4.81 billion, a P/E ratio of 101.01 and a beta of 1.32. The company has a 50 day moving average price of $30.99 and a 200 day moving average price of $29.45. Olin has a 1-year low of $18.24 and a 1-year high of $33.88.

Olin (NYSE:OLN) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Olin had a negative net margin of 0.07% and a positive return on equity of 7.56%. On average, equities analysts anticipate that Olin will post $1.31 EPS for the current year. The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, May 8th. Olin’s dividend payout ratio is currently -2,665.78%.

Olin (NYSE:OLN) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Olin had a negative net margin of 0.07% and a positive return on equity of 7.56%. On average, equities analysts anticipate that Olin will post $1.31 EPS for the current year. A number of institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. raised its position in Olin by 38.8% in the third quarter. Moors & Cabot Inc. now owns 18,326 shares of the specialty chemicals company’s stock valued at $376,000 after buying an additional 5,123 shares in the last quarter. UBS Group AG raised its stake in shares of Olin by 17.5% in the third quarter. UBS Group AG now owns 320,164 shares of the specialty chemicals company’s stock worth $6,570,000 after buying an additional 47,590 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Olin by 37.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 11,868,508 shares of the specialty chemicals company’s stock worth $243,542,000 after buying an additional 3,214,252 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Olin during the third quarter worth $374,000. Finally, Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in shares of Olin during the third quarter worth $1,079,000.

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