Trinseo S.A. (NYSE:TSE) Updates FY17 Earnings Guidance
Trinseo S.A. (NYSE:TSE) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.40-6.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.63. Trinseo also updated its Q3 guidance to $1.10-1.28 EPS.
Shares of Trinseo S.A. (NYSE:TSE) traded down 2.099% during midday trading on Friday, reaching $64.125. 1,051,732 shares of the company were exchanged. The company has a 50 day moving average price of $68.23 and a 200-day moving average price of $67.12. Trinseo S.A. has a 12-month low of $44.70 and a 12-month high of $72.60. The stock has a market capitalization of $2.82 billion, a P/E ratio of 9.083 and a beta of 2.38.
Trinseo (NYSE:TSE) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.41. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Trinseo had a net margin of 7.88% and a return on equity of 70.37%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. On average, analysts forecast that Trinseo S.A. will post $7.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, July 7th. This is an increase from Trinseo’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.20%. Trinseo’s payout ratio is 20.34%.
Trinseo declared that its Board of Directors has initiated a share buyback plan on Thursday, June 22nd that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of research analysts recently issued reports on TSE shares. Zacks Investment Research downgraded Trinseo from a strong-buy rating to a hold rating in a research note on Wednesday, April 19th. BidaskClub upgraded Trinseo from a hold rating to a buy rating in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a buy rating and set a $82.00 price objective on shares of Trinseo in a research note on Friday, June 16th. Finally, Citigroup Inc. upped their price target on Trinseo from $67.00 to $70.00 and gave the stock a neutral rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $72.25.
In other Trinseo news, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $69.49, for a total value of $1,737,250.00. Following the completion of the transaction, the insider now directly owns 265,240 shares in the company, valued at approximately $18,431,527.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $67.24, for a total value of $1,344,800.00. Following the completion of the transaction, the insider now owns 260,240 shares of the company’s stock, valued at $17,498,537.60. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock valued at $4,362,050 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.
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Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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