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Olin (OLN) closed at $52.28 in the latest trading session, marking a -1.15% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.57%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the chlor-alkali and ammunition producer'had gained 4.86% over the past month. This has lagged the Basic Materials sector's gain of 9.98% and the S&P 500's gain of 5.37% in that time.
Olin will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. On that day, Olin is projected to report earnings of $2.33 per share, which would represent year-over-year growth of 52.29%. Meanwhile, our latest consensus estimate is calling for revenue of $2.37 billion, up 23.3% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.05 per share and revenue of $9.56 billion. These totals would mark changes of +12.14% and +7.32%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Olin. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. Olin is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Olin currently has a Forward P/E ratio of 5.84. This valuation marks a discount compared to its industry's average Forward P/E of 12.26.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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