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Olin (OLN) Gains As Market Dips: What You Should Know
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Olin (OLN - Free Report) closed the most recent trading day at $53.90, moving +1.79% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Prior to today's trading, shares of the chlor-alkali and ammunition producer'had lost 7.78% over the past month. This has lagged the Basic Materials sector's gain of 4.05% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from Olin as it approaches its next earnings release, which is expected to be January 27, 2022. In that report, analysts expect Olin to post earnings of $2.43 per share. This would mark year-over-year growth of 2125%. Meanwhile, our latest consensus estimate is calling for revenue of $2.34 billion, up 41.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Olin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Olin is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Olin is holding a Forward P/E ratio of 5.9. For comparison, its industry has an average Forward P/E of 12.68, which means Olin is trading at a discount to the group.
Also, we should mention that OLN has a PEG ratio of 0.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Olin (OLN) Gains As Market Dips: What You Should Know
Olin (OLN - Free Report) closed the most recent trading day at $53.90, moving +1.79% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Prior to today's trading, shares of the chlor-alkali and ammunition producer'had lost 7.78% over the past month. This has lagged the Basic Materials sector's gain of 4.05% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from Olin as it approaches its next earnings release, which is expected to be January 27, 2022. In that report, analysts expect Olin to post earnings of $2.43 per share. This would mark year-over-year growth of 2125%. Meanwhile, our latest consensus estimate is calling for revenue of $2.34 billion, up 41.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Olin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Olin is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Olin is holding a Forward P/E ratio of 5.9. For comparison, its industry has an average Forward P/E of 12.68, which means Olin is trading at a discount to the group.
Also, we should mention that OLN has a PEG ratio of 0.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.