PolyOne Corp. (POL) Price Target Lowered to $36.00 at Jefferies Group
PolyOne Corp. (NYSE:POL) had its target price reduced by stock analysts at Jefferies Group to $36.00 in a report issued on Wednesday. Jefferies Group’s price target points to a potential upside of 12.39% from the stock’s previous close.
Several other brokerages have also issued reports on POL. Zacks Investment Research lowered PolyOne Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, June 30th. Finally, Goldman Sachs Group Inc. lowered 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $37.33.
Shares of PolyOne Corp. (NYSE:POL) opened at 32.03 on Wednesday. The firm has a 50-day moving average price of $33.20 and a 200 day moving average price of $34.70. The company has a market cap of $2.69 billion, a PE ratio of 20.21 and a beta of 1.41. PolyOne Corp. has a 1-year low of $22.35 and a 1-year high of $38.41.
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PolyOne Corp. (NYSE:POL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. PolyOne Corp.’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. On average, equities analysts anticipate that PolyOne Corp. will post $2.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio (DPR) is presently 30.19%.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD boosted its position in shares of PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock valued at $1,918,000 after buying an additional 10,927 shares during the period. First Trust Advisors LP boosted its position in PolyOne Corp. by 39.3% in the second quarter. First Trust Advisors LP now owns 37,005 shares of the company’s stock valued at $1,304,000 after buying an additional 10,438 shares during the last quarter. Wellington Management Group LLP boosted its position in PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock valued at $96,979,000 after buying an additional 2,478,711 shares during the last quarter. Prudential Financial Inc. boosted its position in PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock valued at $13,072,000 after buying an additional 326,916 shares during the last quarter. Finally, Calvert Investment Management Inc. boosted its position in PolyOne Corp. by 34.9% in the second quarter. Calvert Investment Management Inc. now owns 11,008 shares of the company’s stock valued at $388,000 after buying an additional 2,846 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.
About PolyOne Corp.
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