PolyOne Corp. (POL) Expected to Post Q4 2016 Earnings of $0.42 Per Share
PolyOne Corp. (NYSE:POL) – Investment analysts at Jefferies Group lifted their Q4 2016 earnings per share (EPS) estimates for shares of PolyOne Corp. in a report issued on Wednesday. Jefferies Group analyst L. Alexander now expects that the brokerage will earn $0.42 per share for the quarter, up from their prior forecast of $0.40. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock.
PolyOne Corp. (NYSE:POL) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company earned $861.50 million during 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%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share.
Several other research firms have also commented on POL. Goldman Sachs Group Inc. lowered PolyOne Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $38.00 in a research note on Wednesday, July 27th. Zacks Investment Research lowered PolyOne Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.33.
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Shares of PolyOne Corp. (NYSE:POL) traded down 1.39% during midday trading on Thursday, reaching $31.20. The company’s stock had a trading volume of 157,883 shares. The company has a market cap of $2.62 billion, a PE ratio of 19.68 and a beta of 1.41. The company’s 50-day moving average price is $33.14 and its 200-day moving average price is $34.68. PolyOne Corp. has a 12 month low of $22.35 and a 12 month high of $38.41.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PolyOne Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 6,319,569 shares of the company’s stock worth $222,702,000 after buying an additional 157,167 shares during the last quarter. FMR LLC raised its position in shares of PolyOne Corp. by 1.1% in the second quarter. FMR LLC now owns 4,060,676 shares of the company’s stock worth $143,098,000 after buying an additional 43,269 shares during the last quarter. Wellington Management Group LLP raised its position in shares of PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock worth $96,979,000 after buying an additional 2,478,711 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of PolyOne Corp. by 9.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,726,390 shares of the company’s stock worth $96,078,000 after buying an additional 237,513 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of PolyOne Corp. by 15.2% in the second quarter. Westfield Capital Management Co. LP now owns 1,769,227 shares of the company’s stock worth $62,348,000 after buying an additional 233,510 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
About PolyOne Corp.
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