PolyOne Co. (NYSE:POL) – Research analysts at Seaport Global Securities upped their Q2 2019 EPS estimates for shares of PolyOne in a report released on Tuesday, June 11th. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $0.73 for the quarter, up from their prior forecast of $0.68. Seaport Global Securities also issued estimates for PolyOne’s Q3 2019 earnings at $0.69 EPS, Q4 2019 earnings at $0.51 EPS, FY2019 earnings at $2.56 EPS, Q2 2020 earnings at $0.82 EPS, Q3 2020 earnings at $0.78 EPS and FY2020 earnings at $2.88 EPS.
PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, April 17th. The specialty chemicals company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $899.90 million during the quarter, compared to the consensus estimate of $922.33 million. PolyOne had a return on equity of 32.76% and a net margin of 4.28%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS.
POL has been the topic of several other reports. Northcoast Research raised shares of PolyOne from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, April 18th. Wellington Shields raised shares of PolyOne from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday. SunTrust Banks raised shares of PolyOne from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, May 31st. Zacks Investment Research lowered shares of PolyOne from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, KeyCorp dropped their price objective on shares of PolyOne from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $36.00.
NYSE POL 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 PEG ratio of 1.26 and a beta of 1.61.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kings Point Capital Management purchased a new stake in PolyOne during the 4th quarter valued at about $43,000. DekaBank Deutsche Girozentrale purchased a new position in shares of PolyOne during the 1st quarter worth approximately $89,000. Bessemer Group Inc. purchased a new position in shares of PolyOne during the 4th quarter worth approximately $80,000. Bank of Montreal Can boosted its position in shares of PolyOne by 73.4% during the 4th quarter. Bank of Montreal Can now owns 3,128 shares of the specialty chemicals company’s stock worth $90,000 after purchasing an additional 1,324 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of PolyOne during the 4th quarter worth approximately $97,000. 92.47% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a dividend of $0.195 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.64%. PolyOne’s dividend payout ratio (DPR) is presently 32.10%.
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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