PolyOne Co. (NYSE:POL) – Analysts at Oppenheimer reduced their Q3 2018 earnings estimates for shares of PolyOne in a research note issued to investors on Monday, September 10th, according to Zacks Investment Research. Oppenheimer analyst C. Rusch now forecasts that the specialty chemicals company will post earnings per share of $0.62 for the quarter, down from their previous estimate of $0.68. Oppenheimer also issued estimates for PolyOne’s FY2018 earnings at $2.48 EPS.
PolyOne (NYSE:POL) last released its earnings results on Tuesday, July 24th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The business had revenue of $914.80 million for the quarter, compared to the consensus estimate of $908.12 million. PolyOne had a return on equity of 32.92% and a net margin of 5.09%. PolyOne’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share.
POL has been the topic of a number of other research reports. ValuEngine downgraded PolyOne from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Finally, SunTrust Banks cut PolyOne from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.67.
Shares of NYSE:POL traded down $0.61 during midday trading on Wednesday, reaching $41.75. The company had a trading volume of 341,003 shares, compared to its average volume of 344,808. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.22 and a current ratio of 1.76. The company has a market cap of $3.50 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.62 and a beta of 1.44. PolyOne has a 1-year low of $39.68 and a 1-year high of $47.48.
Large investors have recently modified their holdings of the company. Citadel Advisors LLC boosted its holdings in shares of PolyOne by 45.2% during the second quarter. Citadel Advisors LLC now owns 121,992 shares of the specialty chemicals company’s stock worth $5,273,000 after acquiring an additional 37,962 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of PolyOne by 73.1% during the second quarter. Russell Investments Group Ltd. now owns 55,902 shares of the specialty chemicals company’s stock worth $2,415,000 after acquiring an additional 23,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of PolyOne during the second quarter worth approximately $933,000. BlackRock Inc. boosted its holdings in shares of PolyOne by 6.8% during the second quarter. BlackRock Inc. now owns 9,338,968 shares of the specialty chemicals company’s stock worth $403,631,000 after acquiring an additional 596,343 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of PolyOne by 2.9% during the first quarter. Swiss National Bank now owns 142,200 shares of the specialty chemicals company’s stock worth $6,046,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 95.82% of the company’s stock.
In related news, Chairman Robert M. Patterson sold 39,196 shares of PolyOne stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $43.46, for a total transaction of $1,703,458.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 14th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, September 13th. PolyOne’s payout ratio is currently 31.67%.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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