PolyOne Corporation (POL) Receives Average Recommendation of “Hold” from Brokerages
Shares of PolyOne Corporation (NYSE:POL) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.25.
POL has been the topic of a number of recent research reports. Jefferies Group LLC reiterated a “hold” rating and set a $42.00 price target on shares of PolyOne Corporation in a research report on Friday, September 15th. BidaskClub upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research cut shares of PolyOne Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. CIBC assumed coverage on shares of PolyOne Corporation in a report on Thursday, August 17th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $43.00 target price on the stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in PolyOne Corporation by 13,264.4% during the first quarter. BlackRock Inc. now owns 9,786,179 shares of the specialty chemicals company’s stock valued at $333,610,000 after buying an additional 9,712,953 shares during the period. Vanguard Group Inc. lifted its position in PolyOne Corporation by 4.4% during the first quarter. Vanguard Group Inc. now owns 7,030,120 shares of the specialty chemicals company’s stock valued at $239,657,000 after buying an additional 295,988 shares during the period. Alliancebernstein L.P. lifted its position in PolyOne Corporation by 3.1% during the second quarter. Alliancebernstein L.P. now owns 3,090,961 shares of the specialty chemicals company’s stock valued at $119,744,000 after buying an additional 92,253 shares during the period. State Street Corp lifted its position in PolyOne Corporation by 3.2% during the second quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock valued at $107,643,000 after buying an additional 86,473 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in PolyOne Corporation by 5.6% during the first quarter. TimesSquare Capital Management LLC now owns 2,150,899 shares of the specialty chemicals company’s stock valued at $73,324,000 after buying an additional 114,415 shares during the period. 93.99% of the stock is owned by institutional investors.
Shares of PolyOne Corporation (NYSE POL) opened at 40.89 on Thursday. The firm’s 50-day moving average is $37.61 and its 200-day moving average is $37.07. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $41.03. The company’s market capitalization is $3.34 billion.
PolyOne Corporation (NYSE:POL) last issued its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The business had revenue of $814.10 million for the quarter, compared to analysts’ expectations of $812.52 million. During the same period last year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that PolyOne Corporation will post $2.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 14th. PolyOne Corporation’s payout ratio is -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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