PolyOne Corporation Forecasted to Earn Q3 2017 Earnings of $0.58 Per Share (POL)
PolyOne Corporation (NYSE:POL) – Analysts at Oppenheimer Holdings issued their Q3 2017 earnings per share (EPS) estimates for PolyOne Corporation in a research report issued on Wednesday. Oppenheimer Holdings analyst C. Rusch anticipates that the specialty chemicals company will post earnings of $0.58 per share for the quarter. Oppenheimer Holdings currently has a “Outperform” rating and a $43.00 target price on the stock. Oppenheimer Holdings also issued estimates for PolyOne Corporation’s Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $2.23 EPS, FY2018 earnings at $2.52 EPS, FY2019 earnings at $2.72 EPS and FY2020 earnings at $3.05 EPS.
PolyOne Corporation (NYSE:POL) last announced its earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The business had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. During the same quarter last year, the firm earned $0.59 EPS. PolyOne Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year.
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Other research analysts have also issued research reports about the company. TheStreet upgraded PolyOne Corporation from a “c+” rating to a “b-” rating in a report on Monday, April 24th. Zacks Investment Research upgraded PolyOne Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, May 3rd. Finally, BidaskClub upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $40.80.
Shares of PolyOne Corporation (POL) opened at 36.43 on Monday. PolyOne Corporation has a 12 month low of $28.77 and a 12 month high of $40.88. The company has a 50-day moving average price of $37.27 and a 200-day moving average price of $36.19. The firm’s market cap is $2.98 billion.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of PolyOne Corporation by 85.7% in the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 1,200 shares during the last quarter. Advisor Group Inc. increased its stake in shares of PolyOne Corporation by 2.6% in the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock valued at $126,000 after buying an additional 84 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,370 shares during the period. Quantbot Technologies LP bought a new stake in shares of PolyOne Corporation during the second quarter valued at approximately $143,000. Finally, Victory Capital Management Inc. increased its stake in shares of 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 valued at $144,000 after buying an additional 1,336 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.135 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.54 annualized dividend and a yield of 1.48%. PolyOne Corporation’s payout ratio is currently -73.97%.
PolyOne Corporation Company Profile
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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