SunTrust Banks Comments on PolyOne Corporation’s Q4 2017 Earnings (POL)
PolyOne Corporation (NYSE:POL) – Equities researchers at SunTrust Banks reduced their Q4 2017 earnings per share (EPS) estimates for PolyOne Corporation in a note issued to investors on Monday. SunTrust Banks analyst J. Freuchtel now forecasts that the specialty chemicals company will post earnings of $0.38 per share for the quarter, down from their previous estimate of $0.40. SunTrust Banks has a “Buy” rating and a $42.00 price target on the stock. SunTrust Banks also issued estimates for PolyOne Corporation’s Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.71 EPS, Q3 2018 earnings at $0.66 EPS and FY2018 earnings at $2.53 EPS.
PolyOne Corporation (NYSE:POL) last issued its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The firm had revenue of $818.50 million for the quarter, compared to analysts’ expectations of $789.32 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Several other brokerages have also commented on POL. Zacks Investment Research raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 27th. KeyCorp set a $47.00 price objective on PolyOne Corporation and gave the stock a “buy” rating in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $42.00 price objective on shares of PolyOne Corporation in a report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $42.00 price objective on shares of PolyOne Corporation in a report on Thursday, October 19th. Finally, BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. PolyOne Corporation has an average rating of “Buy” and a consensus price target of $43.17.
Shares of PolyOne Corporation (NYSE POL) traded up 0.59% on Wednesday, hitting $46.34. The stock had a trading volume of 166,734 shares. The stock has a 50 day moving average of $40.71 and a 200-day moving average of $38.24. The stock’s market cap is $3.79 billion. PolyOne Corporation has a 12 month low of $28.85 and a 12 month high of $46.54.
Several institutional investors have recently made changes to their positions in the company. Advisor Group Inc. lifted its position 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 acquiring an additional 84 shares in the last quarter. Oakbrook Investments LLC lifted its position in shares of PolyOne Corporation by 2.5% in the second quarter. Oakbrook Investments LLC now owns 6,050 shares of the specialty chemicals company’s stock valued at $234,000 after acquiring an additional 150 shares in the last quarter. Amalgamated Bank lifted its position in shares of PolyOne Corporation by 1.5% in the second quarter. Amalgamated Bank now owns 11,704 shares of the specialty chemicals company’s stock valued at $453,000 after acquiring an additional 175 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of PolyOne Corporation by 0.3% in the second quarter. Texas Permanent School Fund now owns 59,691 shares of the specialty chemicals company’s stock valued at $2,312,000 after acquiring an additional 201 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its position in shares of PolyOne Corporation by 0.9% in the second quarter. State Treasurer State of Michigan now owns 33,700 shares of the specialty chemicals company’s stock valued at $1,306,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.52%. This is an increase from PolyOne Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. PolyOne Corporation’s payout ratio is presently -71.05%.
About PolyOne Corporation
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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