PolyOne Corp. (POL) Given New $36.00 Price Target at Jefferies Group
PolyOne Corp. (NYSE:POL) had its price objective lowered by investment analysts at Jefferies Group to $36.00 in a report released on Wednesday. Jefferies Group’s target price points to a potential upside of 12.39% from the company’s previous close.
Several other research firms have also recently issued reports on POL. Goldman Sachs Group Inc. cut shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $38.00 in a research note on Wednesday, July 27th. Zacks Investment Research cut shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Wellington Shields upgraded shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.33.
Shares of PolyOne Corp. (NYSE:POL) opened at 32.03 on Wednesday. PolyOne Corp. has a 12-month low of $22.35 and a 12-month high of $38.41. The company has a market cap of $2.69 billion, a P/E ratio of 20.21 and a beta of 1.41. The firm has a 50-day moving average of $33.20 and a 200-day moving average of $34.70.
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PolyOne Corp. (NYSE:POL) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. PolyOne Corp.’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Analysts predict that PolyOne Corp. will post $2.17 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Friday, September 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio is 30.19%.
A number of large investors have recently added to or reduced their stakes in POL. Boston Advisors LLC raised its stake in PolyOne Corp. by 0.6% in the second quarter. Boston Advisors LLC now owns 18,004 shares of the company’s stock valued at $634,000 after buying an additional 100 shares in the last quarter. Azimuth Capital Management LLC raised its stake in PolyOne Corp. by 1.5% in the second quarter. Azimuth Capital Management LLC now owns 6,800 shares of the company’s stock valued at $240,000 after buying an additional 100 shares in the last quarter. HL Financial Services LLC raised its stake in PolyOne Corp. by 2.3% in the second quarter. HL Financial Services LLC now owns 15,550 shares of the company’s stock valued at $548,000 after buying an additional 350 shares in the last quarter. Amalgamated Bank raised its stake in PolyOne Corp. by 3.6% in the second quarter. Amalgamated Bank now owns 10,138 shares of the company’s stock valued at $344,000 after buying an additional 351 shares in the last quarter. Finally, IronBridge Capital Management LP raised its stake in PolyOne Corp. by 0.3% in the second quarter. IronBridge Capital Management LP now owns 127,199 shares of the company’s stock valued at $4,482,000 after buying an additional 360 shares in the last quarter. 92.51% of the stock is owned by institutional investors.
About PolyOne Corp.
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