PolyOne Corp. (NYSE:POL) – Research analysts at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for PolyOne Corp. in a report released on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the firm will earn $0.54 per share for the quarter, down from their previous estimate of $0.61. Jefferies Group has a “Hold” rating and a $36.00 price target on the stock. Jefferies Group also issued estimates for PolyOne Corp.’s FY2016 earnings at $2.15 EPS and FY2017 earnings at $2.35 EPS.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Wellington Shields upgraded shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. lowered shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $38.00 in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.33.
Shares of PolyOne Corp. (NYSE:POL) traded up 1.59% during midday trading on Friday, hitting $31.33. 150,296 shares of the stock were exchanged. The firm has a market cap of $2.63 billion, a PE ratio of 19.77 and a beta of 1.41. PolyOne Corp. has a 12-month low of $22.35 and a 12-month high of $38.41. The firm has a 50-day moving average price of $33.06 and a 200 day moving average price of $34.65.
PolyOne Corp. (NYSE:POL) last issued its earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The business earned $861.50 million during the quarter, compared to analysts’ expectations of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share.
Large investors have recently modified their holdings of the company. 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 valued at $1,918,000 after buying an additional 10,927 shares during the last quarter. First Trust Advisors LP raised its stake in shares of PolyOne Corp. by 39.3% in the second quarter. First Trust Advisors LP now owns 37,005 shares of the company’s stock valued at $1,304,000 after buying an additional 10,438 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock valued at $96,979,000 after buying an additional 2,478,711 shares during the last quarter. 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 valued at $13,072,000 after buying an additional 326,916 shares during the last quarter. Finally, Calvert Investment Management Inc. raised its stake in shares of PolyOne Corp. by 34.9% in the second quarter. Calvert Investment Management Inc. now owns 11,008 shares of the company’s stock valued at $388,000 after buying an additional 2,846 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be given a dividend of $0.1325 per share. This is a positive change from PolyOne Corp.’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 1.72%. PolyOne Corp.’s payout ratio is presently 30.19%.
About PolyOne Corp.
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