Equities Analysts Offer Predictions for PolyOne Corp.’s Q3 2016 Earnings (POL)
PolyOne Corp. (NYSE:POL) – Investment analysts at Jefferies Group decreased their Q3 2016 EPS estimates for PolyOne Corp. in a research note issued to investors on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will earn $0.54 per share for the quarter, down from their prior estimate of $0.61. Jefferies Group currently has a “Hold” rating and a $36.00 price objective 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.
POL has been the subject of several other reports. Zacks Investment Research downgraded PolyOne Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. downgraded PolyOne Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a research report on Wednesday, July 27th. Finally, Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s 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 52-week low of $22.35 and a 52-week high of $38.41. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 19.71 and a beta of 1.41. The stock’s 50 day moving average price is $32.98 and its 200 day moving average price is $34.67.
PolyOne Corp. (NYSE:POL) last posted its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company earned $861.50 million during the quarter, compared to analyst estimates of $879.38 million. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be given a $0.1325 dividend. The ex-dividend date is Wednesday, December 14th. This is an increase 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 (DPR) is currently 30.19%.
Institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD increased its position in PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock valued at $1,918,000 after buying an additional 10,927 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of PolyOne Corp. by 39.3% in the second quarter. First Trust Advisors LP now owns 37,005 shares of the company’s stock valued at $1,304,000 after buying an additional 10,438 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock valued at $96,979,000 after buying an additional 2,478,711 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock valued at $13,072,000 after buying an additional 326,916 shares during the last quarter. Finally, Calvert Investment Management Inc. boosted its stake in shares of PolyOne Corp. by 34.9% in the second quarter. Calvert Investment Management Inc. now owns 11,008 shares of the company’s stock valued at $388,000 after buying an additional 2,846 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
About PolyOne Corp.
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