PolyOne (POL) Releases Quarterly Earnings Results
PolyOne (NYSE:POL) posted its quarterly earnings results on Monday. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.01, Analyst Ratings Network.com reports. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.37 earnings per share. PolyOne’s revenue was down 3.1% compared to the same quarter last year.
A number of analysts have recently weighed in on POL shares. Analysts at KeyCorp reiterated a “buy” rating on shares of PolyOne in a research note on Wednesday, July 16th. They now have a $52.00 price target on the stock, up previously from $48.00. Finally, analysts at Jefferies Group raised their price target on shares of PolyOne from $44.00 to $47.00 in a research note on Monday, June 2nd. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $44.82.
PolyOne (NYSE:POL) traded down 1.05% during mid-day trading on Monday, hitting $41.59. 712,063 shares of the company’s stock traded hands. PolyOne has a 52 week low of $26.04 and a 52 week high of $43.34. The stock has a 50-day moving average of $41.55 and a 200-day moving average of $37.98. The company has a market cap of $3.915 billion and a price-to-earnings ratio of 15.85.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, September 10th.
PolyOne Corporation (NYSE:POL) is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
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