PolyOne Corporation (NYSE:POL) – Equities research analysts at Seaport Global Securities dropped their Q4 2017 EPS estimates for shares of PolyOne Corporation in a note issued to investors on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.45. Seaport Global Securities also issued estimates for PolyOne Corporation’s Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.50 EPS and FY2018 earnings at $2.55 EPS.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The company had revenue of $818.50 million during the quarter, compared to the consensus estimate of $789.32 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 9.6% on a year-over-year basis.
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Several other research analysts also recently weighed in on POL. CIBC began coverage on PolyOne Corporation in a research note on Thursday, August 17th. They issued an “outperform” rating and a $43.00 price target for the company. Zacks Investment Research upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Oppenheimer Holdings, Inc. began coverage on PolyOne Corporation in a research report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 target price for the company. Finally, KeyCorp set a $47.00 target price on PolyOne Corporation and gave the company a “buy” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $43.17.
PolyOne Corporation (NYSE POL) traded down $0.42 during mid-day trading on Friday, reaching $45.20. The company’s stock had a trading volume of 321,900 shares, compared to its average volume of 540,078. PolyOne Corporation has a 1-year low of $31.21 and a 1-year high of $46.59. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 2.32. The company has a market cap of $3,652.34, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 2.08 and a beta of 1.85.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be paid a $0.175 dividend. This is a positive change from PolyOne Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. This represents a $0.70 dividend on an annualized basis and a yield of 1.55%. PolyOne Corporation’s dividend payout ratio (DPR) is presently -71.05%.
A number of hedge funds have recently added to or reduced their stakes in POL. UBS Asset Management Americas Inc. increased its stake in PolyOne Corporation by 18.9% in the first quarter. UBS Asset Management Americas Inc. now owns 51,457 shares of the specialty chemicals company’s stock worth $1,754,000 after purchasing an additional 8,192 shares during the period. Envestnet Asset Management Inc. increased its stake in PolyOne Corporation by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 2,126 shares during the period. Victory Capital Management Inc. increased its stake in PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after purchasing an additional 1,336 shares during the period. OppenheimerFunds Inc. increased its stake in PolyOne Corporation by 28.5% in the first quarter. OppenheimerFunds Inc. now owns 26,210 shares of the specialty chemicals company’s stock worth $893,000 after purchasing an additional 5,814 shares during the period. Finally, Principal Financial Group Inc. increased its stake in PolyOne Corporation by 0.4% in the first quarter. Principal Financial Group Inc. now owns 335,834 shares of the specialty chemicals company’s stock worth $11,449,000 after purchasing an additional 1,473 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.
About PolyOne Corporation
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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