FY2017 EPS Estimates for PolyOne Corporation (POL) Boosted by SunTrust Banks
PolyOne Corporation (NYSE:POL) – SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for PolyOne Corporation in a research report issued on Monday. SunTrust Banks analyst J. Freuchtel now expects that the specialty chemicals company will post earnings per share of $2.19 for the year, up from their prior forecast of $2.18. SunTrust Banks currently has a “Buy” rating and a $42.00 target price on the stock.
Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group LLC reiterated a “hold” rating and set a $42.00 target price on shares of PolyOne Corporation in a report on Friday, September 15th. BidaskClub upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Robert W. Baird reiterated a “buy” rating and set a $42.00 target price on shares of PolyOne Corporation in a report on Thursday, October 12th. Finally, KeyCorp set a $47.00 target price on shares of PolyOne Corporation and gave the company a “buy” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $43.17.
PolyOne Corporation (NYSE:POL) last issued its 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 business had revenue of $818.50 million during the quarter, compared to analyst estimates of $789.32 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its position in shares of PolyOne Corporation by 85.7% during the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock valued at $101,000 after acquiring an additional 1,200 shares in the last quarter. Advisor Group Inc. increased its position in shares of PolyOne Corporation by 2.6% during 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. Quantbot Technologies LP bought a new stake in shares of PolyOne Corporation during the second quarter valued at approximately $143,000. Victory Capital Management Inc. increased its position in shares of PolyOne Corporation by 46.3% during the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after acquiring an additional 1,336 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PolyOne Corporation by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock valued at $157,000 after acquiring an additional 317 shares in the last quarter. 93.98% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, December 14th. 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. PolyOne Corporation’s dividend payout ratio (DPR) is -71.05%.
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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