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Earnings Watch: 10 Chemical Stocks

9. Olin (OLN - Get Report) is a manufacturer concentrated in two business segments: Chlor Alkali Products and Winchester. The chlor alkali products line includes chlorine and caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, bleach products and potassium hydroxide, while the Winchester products segment comprise of sporting ammunition, reloading components, small-caliber military ammunition and components, and industrial cartridges.

The company is scheduled to report its first quarter 2011 results on April 28. Net income is projected to increase 65% to $23.3 million or 28 cents per share from $14.1 million or 18 cents per share in the comparable quarter of last year. Moreover, total revenue is expected to increase 16.1% year-over-year to $420.1 million, according to analysts polled by Bloomberg.

During Feb. 2011, the company acquired PolyOne Corporation's 50% interest in the SunBelt-Chlor Alkali partnership for $132.3 million in cash, plus the assumption of a PolyOne guarantee related to the partnership debt. The plant has approximately 350,000 tons of membrane technology capacity. The acquisition is expected to be accretive to EBITDA and earnings in 2011.

Of the nine analysts covering the stock, 67% recommend it a buy, while 22% rate it a hold. On average, analysts expect an upside of 12.5% to $27.88 in value from current levels. Moreover, analysts at UBS increased their price target on the stock to $25 from $19, while maintaining a neutral rating. The stock has gained 22% during the past one month.
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