PolyOne Co. (NYSE:POL) – Analysts at KeyCorp lowered their FY2018 earnings per share (EPS) estimates for shares of PolyOne in a research report issued to clients and investors on Wednesday, October 24th. KeyCorp analyst M. Sison now expects that the specialty chemicals company will post earnings per share of $2.40 for the year, down from their previous forecast of $2.50. KeyCorp currently has a “Overweight” rating and a $43.00 price target on the stock. KeyCorp also issued estimates for PolyOne’s Q4 2018 earnings at $0.39 EPS and FY2019 earnings at $2.60 EPS.
Several other equities analysts have also recently issued reports on POL. ValuEngine upgraded PolyOne from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research cut PolyOne from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. SunTrust Banks cut PolyOne from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Wellington Shields cut PolyOne from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on PolyOne from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has 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 presently has an average rating of “Hold” and an average price target of $43.00.
PolyOne (NYSE:POL) last announced its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. PolyOne had a return on equity of 32.72% and a net margin of 5.33%. The firm had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $887.93 million. During the same period last year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank bought a new stake in PolyOne in the third quarter valued at $109,000. Mount Yale Investment Advisors LLC bought a new stake in PolyOne in the first quarter valued at $132,000. Itau Unibanco Holding S.A. bought a new stake in PolyOne in the second quarter valued at $171,000. Tower Research Capital LLC TRC lifted its stake in PolyOne by 64.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock valued at $239,000 after buying an additional 2,161 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in PolyOne in the second quarter valued at $274,000. Institutional investors own 92.71% of the company’s stock.
In related news, SVP M. John Jr. Midea bought 1,050 shares of the business’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $31.08 per share, for a total transaction of $32,634.00. Following the completion of the purchase, the senior vice president now owns 3,836 shares of the company’s stock, valued at approximately $119,222.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Abernathy bought 10,000 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was bought at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the completion of the purchase, the director now directly owns 11,593 shares of the company’s stock, valued at approximately $355,209.52. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Shareholders of record on Friday, December 14th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 2.53%. This is a boost from PolyOne’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, December 13th. PolyOne’s dividend payout ratio (DPR) is presently 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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