FY2017 EPS Estimates for PolyOne Corporation (POL) Boosted by SunTrust Banks
PolyOne Corporation (NYSE:POL) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for PolyOne Corporation in a research note issued on Monday. SunTrust Banks analyst J. Freuchtel now forecasts that the specialty chemicals company will post earnings per share of $2.19 for the year, up from their prior forecast of $2.18. SunTrust Banks has a “Buy” rating and a $42.00 price target on the stock.
POL has been the subject of a number of other research reports. Zacks Investment Research raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. CIBC assumed coverage on PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of PolyOne Corporation in a report on Friday, September 15th. Finally, KeyCorp set a $47.00 target price on PolyOne Corporation and gave the stock a “buy” rating in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $43.17.
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PolyOne Corporation (NYSE:POL) opened at $46.46 on Thursday. The firm has a market capitalization of $3.73 billion, a PE ratio of 21.17, a P/E/G ratio of 2.12 and a beta of 1.85. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.96 and a quick ratio of 1.38.
PolyOne Corporation (NYSE:POL) last posted its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $818.50 million during the quarter, compared to analyst estimates of $789.32 million. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be issued a $0.175 dividend. The ex-dividend date is Thursday, December 14th. This is an increase from PolyOne Corporation’s previous quarterly dividend of $0.14. This represents a $0.70 dividend on an annualized basis and a yield of 1.51%. PolyOne Corporation’s payout ratio is presently -71.05%.
A number of large investors have recently made changes to their positions in POL. BlackRock Inc. lifted its holdings in PolyOne Corporation by 13,264.4% in the first quarter. BlackRock Inc. now owns 9,786,179 shares of the specialty chemicals company’s stock valued at $333,610,000 after acquiring an additional 9,712,953 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in PolyOne Corporation in the second quarter valued at approximately $51,188,000. Victory Capital Management Inc. lifted its holdings in PolyOne Corporation by 27,668.9% in the second quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock valued at $45,429,000 after acquiring an additional 1,168,456 shares during the period. GW&K Investment Management LLC acquired a new position in PolyOne Corporation in the second quarter valued at approximately $36,812,000. Finally, American Century Companies Inc. acquired a new position in PolyOne Corporation in the second quarter valued at approximately $23,982,000. 93.98% of the stock is owned by institutional investors.
About PolyOne Corporation
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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