Olin Analysts Slash Their Forecasts After Q3 Results - Olin (NYSE:OLN)

Olin Corp (NYSE:OLN) reported mixed results for the third quarter, after the closing bell on Monday.

The company posted quarterly earnings of 37 cents per share which beat the analyst consensus estimate of 11 cents per share. The company reported quarterly sales of $1.713 billion which missed the analyst consensus estimate of $1.735 billion.

Ken Lane, President, and Chief Executive Officer, said, “In the third quarter, Olin delivered on our sequentially higher earnings expectations, primarily driven by our Chlor Alkali Products and Vinyls segment. Although seasonal demand growth was limited within a persistently challenging market, Olin maintained its disciplined focus on preserving our Electrochemical Unit (ECU) values.”

Olin shares gained 6.2% to trade at $22.33 on Wednesday.

These analysts made changes to their price targets on Olin following earnings announcement.

Keybanc analyst Aleksey Yefremov maintained Olin with an Overweight rating and lowered the price target from $30 to $29.
Wells Fargo analyst Michael Sison maintained the stock with an Equal-Weight rating and lowered the price target from $25 to $22.
Truist Securities analyst Peter Osterland maintained Olin with a Hold and lowered the price target from $22 to $21.
UBS analyst Joshua Spector maintained Olin with a Neutral and slashed the price target from $24 to $22.

Considering buying OLN stock? Here’s what analysts think:

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