PolyOne Corp. (NYSE:POL) – Research analysts at Seaport Global Securities dropped their Q1 2017 earnings estimates for shares of PolyOne Corp. in a report issued on Thursday. Seaport Global Securities analyst M. Harrison now anticipates that the firm will post earnings per share of $0.62 for the quarter, down from their prior forecast of $0.63. Seaport Global Securities also issued estimates for PolyOne Corp.’s Q2 2017 earnings at $0.68 EPS, Q3 2017 earnings at $0.63 EPS, Q4 2017 earnings at $0.52 EPS and FY2017 earnings at $2.45 EPS.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $861.50 million for the quarter, compared to the consensus estimate of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded PolyOne Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group Inc. cut PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $38.00 in a research report on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of PolyOne Corp. in a research report on Wednesday, July 6th. Finally, Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $38.00.
Shares of PolyOne Corp. (NYSE:POL) traded up 1.61% on Friday, reaching $34.05. 273,589 shares of the company traded hands. The company has a market capitalization of $2.86 billion, a P/E ratio of 21.48 and a beta of 1.48. The firm’s 50 day moving average is $33.31 and its 200 day moving average is $34.47. PolyOne Corp. has a one year low of $22.35 and a one year high of $38.41.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio is presently 30.19%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virginia Retirement System purchased a new stake in shares of PolyOne Corp. during the first quarter worth approximately $1,425,000. Pacad Investment Ltd. purchased a new stake in shares of PolyOne Corp. during the first quarter worth approximately $369,000. Prudential Financial Inc. raised its stake in shares of PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock worth $13,072,000 after buying an additional 326,916 shares during the last quarter. BlackRock Inc. raised its stake in shares of PolyOne Corp. by 8.8% in the first quarter. BlackRock Inc. now owns 34,874 shares of the company’s stock worth $1,055,000 after buying an additional 2,815 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock worth $1,918,000 after buying an additional 10,927 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
PolyOne Corp. Company Profile
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