PolyOne Corp. (POL) Shares Gap Up to $33.85
PolyOne Corp. (NYSE:POL) gapped up before the market opened on Tuesday . The stock had previously closed at $33.68, but opened at $33.85. PolyOne Corp. shares last traded at $34.25, with a volume of 125,657 shares trading hands.
POL has been the subject of several research reports. Zacks Investment Research lowered shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Wellington Shields raised shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Seaport Global Securities raised shares of PolyOne Corp. from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $37.00 to $41.00 in a report on Wednesday, April 27th. Jefferies Group reissued a “hold” rating and issued a $40.00 target price (up from $37.00) on shares of PolyOne Corp. in a report on Monday, June 13th. Finally, TheStreet raised shares of PolyOne Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, April 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.00.
The firm has a 50-day moving average of $35.63 and a 200-day moving average of $33.41. The firm has a market capitalization of $2.86 billion and a price-to-earnings ratio of 21.48.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The business earned $861.50 million during the quarter, compared to analyst estimates of $879.38 million. During the same period in the prior year, the business posted $0.57 EPS. PolyOne Corp.’s revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that PolyOne Corp. will post $2.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date is Wednesday, September 14th.
A hedge fund recently raised its stake in PolyOne Corp. stock. Jennison Associates LLC raised its stake in PolyOne Corp. (NYSE:POL) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,891,799 shares of the company’s stock after buying an additional 40,337 shares during the period. Jennison Associates LLC owned 2.20% of PolyOne Corp. worth $60,084,000 at the end of the most recent reporting period.
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