Citigroup Lowers Trinseo (NYSE:TSE) to Neutral

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Citigroup downgraded shares of Trinseo (NYSE:TSE) from a buy rating to a neutral rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have $32.00 price objective on the basic materials company’s stock, down from their prior price objective of $48.00.

Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered Trinseo from a hold rating to a strong sell rating in a research note on Thursday, July 4th. TheStreet lowered Trinseo from a b- rating to a c+ rating in a research note on Friday, May 17th. ValuEngine raised Trinseo from a strong sell rating to a sell rating in a research note on Wednesday, June 12th. Deutsche Bank reduced their price target on Trinseo from $55.00 to $50.00 and set a buy rating on the stock in a research report on Monday, July 1st. They noted that the move was a valuation call. Finally, Goldman Sachs Group lowered Trinseo from a neutral rating to a sell rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $49.86.

NYSE TSE opened at $27.86 on Tuesday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 3.84, a P/E/G ratio of 0.56 and a beta of 2.02. Trinseo has a 1-year low of $27.37 and a 1-year high of $82.18. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.83 and a quick ratio of 2.05. The business’s 50-day simple moving average is $37.49 and its 200-day simple moving average is $43.23.

Trinseo (NYSE:TSE) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.63). The firm had revenue of $951.80 million during the quarter, compared to analyst estimates of $1.07 billion. Trinseo had a net margin of 3.25% and a return on equity of 22.71%. The business’s revenue for the quarter was down 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.40 earnings per share. On average, equities research analysts expect that Trinseo will post 4.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.74%. The ex-dividend date was Wednesday, July 10th. Trinseo’s dividend payout ratio (DPR) is presently 22.07%.

In related news, insider Catherine C. Keenan sold 12,264 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $38.17, for a total transaction of $468,116.88. Following the transaction, the insider now directly owns 15,901 shares of the company’s stock, valued at approximately $606,941.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Catherine C. Keenan sold 5,050 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $38.41, for a total value of $193,970.50. Following the transaction, the insider now directly owns 15,901 shares in the company, valued at $610,757.41. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings in Trinseo by 3.3% during the 1st quarter. Meeder Asset Management Inc. now owns 10,860 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 351 shares during the last quarter. Bailard Inc. increased its holdings in Trinseo by 1.0% during the 1st quarter. Bailard Inc. now owns 38,056 shares of the basic materials company’s stock worth $1,724,000 after purchasing an additional 375 shares during the last quarter. Aperio Group LLC increased its holdings in Trinseo by 3.1% during the 2nd quarter. Aperio Group LLC now owns 13,515 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 411 shares during the last quarter. Comerica Bank increased its holdings in Trinseo by 9.6% during the 1st quarter. Comerica Bank now owns 7,986 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 700 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Trinseo during the 2nd quarter worth approximately $42,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Trinseo Company Profile

Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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Analyst Recommendations for Trinseo (NYSE:TSE)

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