U.S. markets closed
  • S&P 500

    4,455.48
    +6.50 (+0.15%)
     
  • Dow 30

    34,798.00
    +33.18 (+0.10%)
     
  • Nasdaq

    15,047.70
    -4.54 (-0.03%)
     
  • Russell 2000

    2,248.07
    -10.97 (-0.49%)
     
  • Crude Oil

    73.95
    +0.65 (+0.89%)
     
  • Gold

    1,750.60
    +0.80 (+0.05%)
     
  • Silver

    22.37
    -0.27 (-1.20%)
     
  • EUR/USD

    1.1718
    -0.0029 (-0.25%)
     
  • 10-Yr Bond

    1.4600
    +0.0500 (+3.55%)
     
  • GBP/USD

    1.3681
    -0.0040 (-0.29%)
     
  • USD/JPY

    110.6850
    +0.3840 (+0.35%)
     
  • BTC-USD

    43,282.53
    +970.32 (+2.29%)
     
  • CMC Crypto 200

    1,067.20
    -35.86 (-3.25%)
     
  • FTSE 100

    7,051.48
    -26.87 (-0.38%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

Olin (OLN) Gains As Market Dips: What You Should Know

·3 min read

Olin (OLN) closed at $47.59 in the latest trading session, marking a +0.32% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.46%.

Heading into today, shares of the chlor-alkali and ammunition producer'had lost 1.52% over the past month, outpacing the Basic Materials sector's loss of 3.35% and lagging the S&P 500's gain of 1.93% in that time.

Wall Street will be looking for positivity from OLN as it approaches its next earnings report date. The company is expected to report EPS of $2.03, up 1115% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.27 billion, up 57.7% from the year-ago period.

OLN's full-year Zacks Consensus Estimates are calling for earnings of $7.16 per share and revenue of $8.34 billion. These results would represent year-over-year changes of +630.37% and +44.81%, respectively.

Investors might also notice recent changes to analyst estimates for OLN. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OLN is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, OLN is holding a Forward P/E ratio of 6.63. This valuation marks a discount compared to its industry's average Forward P/E of 12.23.

We can also see that OLN currently has a PEG ratio of 0.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Chemical - Diversified stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.

The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow OLN in the coming trading sessions, be sure to utilize Zacks.com.


Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Olin Corporation (OLN): Free Stock Analysis Report
 
To read this article on Zacks.com click here.