PolyOne Co. (NYSE:POL) – Equities researchers at Gabelli increased their FY2019 earnings estimates for PolyOne in a research report issued on Wednesday, June 12th. Gabelli analyst R. Morbelli now expects that the specialty chemicals company will earn $2.52 per share for the year, up from their previous estimate of $2.44. Gabelli also issued estimates for PolyOne’s FY2020 earnings at $2.75 EPS, FY2021 earnings at $3.05 EPS, FY2022 earnings at $3.40 EPS and FY2023 earnings at $3.80 EPS.
PolyOne (NYSE:POL) last issued its quarterly earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). PolyOne had a return on equity of 32.76% and a net margin of 4.28%. The firm had revenue of $899.90 million during the quarter, compared to analysts’ expectations of $922.33 million. During the same period in the previous year, the company earned $0.68 earnings per share. PolyOne’s revenue for the quarter was down .2% on a year-over-year basis.
Several other equities research analysts also recently commented on POL. Zacks Investment Research downgraded PolyOne from a “hold” rating to a “sell” rating in a report on Friday, April 5th. ValuEngine downgraded PolyOne from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Northcoast Research raised PolyOne from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, April 18th. KeyCorp dropped their target price on PolyOne from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Buckingham Research dropped their target price on PolyOne from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.00.
PolyOne stock opened at $29.49 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.16 and a current ratio of 1.81. PolyOne has a 12 month low of $24.47 and a 12 month high of $45.70. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.26 and a beta of 1.61.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, June 13th. PolyOne’s dividend payout ratio (DPR) is 32.10%.
Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of PolyOne by 7.3% during the first quarter. Wells Fargo & Company MN now owns 3,561,551 shares of the specialty chemicals company’s stock valued at $104,389,000 after purchasing an additional 243,372 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PolyOne by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,087,245 shares of the specialty chemicals company’s stock valued at $59,695,000 after purchasing an additional 37,819 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of PolyOne by 0.3% during the fourth quarter. Jennison Associates LLC now owns 1,654,008 shares of the specialty chemicals company’s stock valued at $47,305,000 after purchasing an additional 5,699 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of PolyOne by 2.8% during the first quarter. Victory Capital Management Inc. now owns 1,330,663 shares of the specialty chemicals company’s stock valued at $39,002,000 after purchasing an additional 36,006 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of PolyOne by 13.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,330,555 shares of the specialty chemicals company’s stock valued at $38,053,000 after purchasing an additional 153,732 shares in the last quarter. 92.47% of the stock is currently owned by hedge funds and other institutional investors.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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