PolyOne Corp. (NYSE:POL) – Research analysts at Jefferies Group lowered their Q3 2016 EPS estimates for shares of PolyOne Corp. in a report released on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.61. Jefferies Group currently has a “Hold” rating and a $36.00 target price 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 research analysts also recently commented on the company. Zacks Investment Research downgraded PolyOne Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. downgraded PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased 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 currently has an average rating of “Hold” and an average price target of $37.33.
PolyOne Corp. (NYSE:POL) opened at 31.24 on Friday. PolyOne Corp. has a 1-year low of $22.35 and a 1-year high of $38.41. The stock has a 50 day moving average price of $32.98 and a 200-day moving average price of $34.67. The stock has a market cap of $2.63 billion, a PE ratio of 19.71 and a beta of 1.41.
PolyOne Corp. (NYSE:POL) last released 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 company earned $861.50 million during the quarter, compared to analysts’ expectations of $879.38 million. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 16th will be paid a dividend of $0.1325 per share. This is a boost from PolyOne Corp.’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, December 14th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.70%. PolyOne Corp.’s dividend payout ratio is currently 30.19%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in PolyOne Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,830 shares of the company’s stock worth $100,000 after buying an additional 1,234 shares in the last quarter. Creative Planning boosted its position in PolyOne Corp. by 57.8% in the third quarter. Creative Planning now owns 2,961 shares of the company’s stock worth $100,000 after buying an additional 1,085 shares in the last quarter. LS Investment Advisors LLC boosted its position in PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock worth $179,000 after buying an additional 2,119 shares in the last quarter. Capstone Asset Management Co. acquired a new position in PolyOne Corp. during the second quarter worth approximately $202,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in PolyOne Corp. during the second quarter worth approximately $205,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
About PolyOne Corp.