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Olin (OLN) Gains As Market Dips: What You Should Know
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Olin (OLN - Free Report) closed at $58.21 in the latest trading session, marking a +1.38% move from the prior day. This move outpaced the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Heading into today, shares of the chlor-alkali and ammunition producer'had gained 8.71% over the past month, outpacing the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Olin as it approaches its next earnings release, which is expected to be April 28, 2022. On that day, Olin is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 52.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.38 billion, up 24.27% from the year-ago period.
OLN's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $9.59 billion. These results would represent year-over-year changes of +13.51% and +7.57%, respectively.
Investors might also notice recent changes to analyst estimates for Olin. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate has moved 0.83% higher within the past month. Olin is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Olin's current valuation metrics, including its Forward P/E ratio of 6.27. This represents a discount compared to its industry's average Forward P/E of 11.62.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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Olin (OLN) Gains As Market Dips: What You Should Know
Olin (OLN - Free Report) closed at $58.21 in the latest trading session, marking a +1.38% move from the prior day. This move outpaced the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Heading into today, shares of the chlor-alkali and ammunition producer'had gained 8.71% over the past month, outpacing the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Olin as it approaches its next earnings release, which is expected to be April 28, 2022. On that day, Olin is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 52.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.38 billion, up 24.27% from the year-ago period.
OLN's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $9.59 billion. These results would represent year-over-year changes of +13.51% and +7.57%, respectively.
Investors might also notice recent changes to analyst estimates for Olin. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate has moved 0.83% higher within the past month. Olin is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Olin's current valuation metrics, including its Forward P/E ratio of 6.27. This represents a discount compared to its industry's average Forward P/E of 11.62.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.