$0.39 Earnings Per Share Expected for PolyOne Corporation (POL) This Quarter
Wall Street brokerages expect that PolyOne Corporation (NYSE:POL) will report earnings per share of $0.39 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for PolyOne’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.42. PolyOne posted earnings per share of $0.38 in the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The firm is scheduled to report its next quarterly earnings report on Friday, January 26th.
According to Zacks, analysts expect that PolyOne will report full year earnings of $2.19 per share for the current year, with EPS estimates ranging from $2.15 to $2.22. For the next year, analysts expect that the business will report earnings of $2.49 per share, with EPS estimates ranging from $2.40 to $2.55. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow PolyOne.
PolyOne (NYSE:POL) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $818.50 million for the quarter, compared to analysts’ expectations of $789.32 million. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share.
A number of equities research analysts have weighed in on POL shares. SunTrust Banks restated a “buy” rating and issued a $42.00 price objective on shares of PolyOne in a report on Friday, October 27th. Zacks Investment Research cut shares of PolyOne from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group reiterated a “hold” rating and set a $42.00 price target on shares of PolyOne in a report on Friday, September 15th. BidaskClub upgraded shares of PolyOne from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, KeyCorp set a $47.00 price target on shares of PolyOne and gave the company a “buy” rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PolyOne currently has a consensus rating of “Buy” and an average target price of $43.17.
Shares of PolyOne (POL) opened at $44.97 on Wednesday. The firm has a market cap of $3,688.71, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.83. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 2.32. PolyOne has a fifty-two week low of $31.68 and a fifty-two week high of $46.79.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.175 per share. This is a boost from PolyOne’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.56%. PolyOne’s dividend payout ratio is presently -71.05%.
Several large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC lifted its position in PolyOne by 85.7% during the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 1,200 shares during the period. Advisor Group Inc. lifted its position in PolyOne by 2.6% during the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock valued at $126,000 after purchasing an additional 84 shares during the period. Quantbot Technologies LP bought a new position in PolyOne during the second quarter valued at approximately $143,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PolyOne by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock valued at $157,000 after purchasing an additional 317 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its position in PolyOne by 215.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock valued at $165,000 after purchasing an additional 2,900 shares during the period. Hedge funds and other institutional investors own 93.80% of the company’s stock.
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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