Wall Street analysts forecast that PolyOne Co. (NYSE:POL) will report earnings of $0.26 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for PolyOne’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.26. PolyOne posted earnings per share of $0.41 during the same quarter last year, which indicates a negative year over year growth rate of 36.6%. The business is expected to issue its next quarterly earnings report on Tuesday, February 4th.
According to Zacks, analysts expect that PolyOne will report full year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.61 to $2.08. For the next financial year, analysts anticipate that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.70 to $1.89. Zacks’ earnings per share averages are an average based on a survey of research firms that follow PolyOne.
PolyOne (NYSE:POL) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $705.00 million for the quarter, compared to the consensus estimate of $721.91 million. PolyOne had a net margin of 4.03% and a return on equity of 30.57%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share.
A number of brokerages have issued reports on POL. ValuEngine lowered shares of PolyOne from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co started coverage on shares of PolyOne in a research note on Tuesday, October 15th. They set a “market perform” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research lowered shares of PolyOne from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. PolyOne has a consensus rating of “Buy” and an average target price of $34.71.
Hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new stake in shares of PolyOne in the second quarter worth $31,150,000. Victory Capital Management Inc. raised its holdings in shares of PolyOne by 71.4% during the second quarter. Victory Capital Management Inc. now owns 2,280,943 shares of the specialty chemicals company’s stock worth $71,599,000 after purchasing an additional 950,280 shares during the last quarter. Millennium Management LLC lifted its position in PolyOne by 3,010.1% during the third quarter. Millennium Management LLC now owns 651,944 shares of the specialty chemicals company’s stock valued at $21,285,000 after purchasing an additional 630,982 shares during the period. BlackRock Inc. lifted its position in PolyOne by 5.2% during the second quarter. BlackRock Inc. now owns 9,859,150 shares of the specialty chemicals company’s stock valued at $309,478,000 after purchasing an additional 491,079 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in PolyOne by 61.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,152,501 shares of the specialty chemicals company’s stock valued at $36,177,000 after purchasing an additional 438,560 shares during the last quarter. 91.93% of the stock is currently owned by institutional investors and hedge funds.
POL stock traded down $0.65 during trading on Thursday, reaching $30.37. The company had a trading volume of 5,318 shares, compared to its average volume of 327,458. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. PolyOne has a twelve month low of $24.47 and a twelve month high of $35.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.43 and a current ratio of 1.88. The firm has a 50-day simple moving average of $32.46 and a 200-day simple moving average of $30.87.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, December 13th will be issued a dividend of $0.203 per share. This is an increase from PolyOne’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.67%. PolyOne’s payout ratio is 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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