Trade Report: The PolyOne Corp. (POL) Price Target Cut to $36.00

The PolyOne Corp. (POL) Price Target Cut to $36.00

PolyOne Corp. (NYSE:POL) had its price objective reduced by Jefferies Group from $40.00 to $36.00 in a research note published on Wednesday morning. Jefferies Group currently has a hold rating on the stock.

Several other analysts also recently issued reports on POL. Goldman Sachs Group Inc. downgraded PolyOne Corp. from a buy rating to a neutral rating and reduced their price objective for the company from $42.00 to $38.00 in a research report on Wednesday, July 27th. Wellington Shields upgraded PolyOne Corp. from a hold rating to a gradually accumulate rating in a research report on Thursday, June 30th. Finally, Zacks Investment Research downgraded PolyOne Corp. from a buy rating to a hold rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $37.33.

PolyOne Corp. (NYSE:POL) opened at 31.13 on Wednesday. The stock has a market cap of $2.62 billion, a PE ratio of 19.64 and a beta of 1.41. The stock has a 50 day moving average price of $32.90 and a 200 day moving average price of $34.73. PolyOne Corp. has a 52 week low of $22.35 and a 52 week high of $38.41.

PolyOne Corp. (NYSE:POL) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The business had revenue of $861.50 million for the quarter, compared to the consensus estimate of $879.38 million. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that PolyOne Corp. will post $2.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be paid a dividend of $0.1325 per share. The ex-dividend date is Wednesday, December 14th. This is a positive change from PolyOne Corp.’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a yield of 1.70%. PolyOne Corp.’s dividend payout ratio is currently 30.19%.

A number of large investors have recently made changes to their positions in POL. Victory Capital Management Inc. raised its stake in shares of PolyOne Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,830 shares of the company’s stock valued at $100,000 after buying an additional 1,234 shares in the last quarter. Creative Planning raised its stake in shares of PolyOne Corp. by 57.8% in the third quarter. Creative Planning now owns 2,961 shares of the company’s stock valued at $100,000 after buying an additional 1,085 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock valued at $179,000 after buying an additional 2,119 shares in the last quarter. Capstone Asset Management Co. purchased a new stake in shares of PolyOne Corp. during the second quarter valued at approximately $202,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of PolyOne Corp. during the second quarter valued at approximately $205,000. Institutional investors own 92.48% of the company’s stock.

About PolyOne Corp.

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