Zacks Investment Research Downgrades PolyOne Corp. (POL) to Sell
PolyOne Corp. (NYSE:POL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “
POL has been the topic of several other research reports. Wellington Shields upgraded shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Jefferies Group restated a “hold” rating and set a $40.00 price target (up previously from $37.00) on shares of PolyOne Corp. in a research report on Monday, June 13th. Finally, Goldman Sachs Group Inc. lowered shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $38.00 in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.00.
PolyOne Corp. (NYSE:POL) opened at 33.51 on Wednesday. The company has a market capitalization of $2.82 billion, a P/E ratio of 21.14 and a beta of 1.48. PolyOne Corp. has a one year low of $22.35 and a one year high of $38.41. The company’s 50-day moving average is $33.31 and its 200 day moving average is $34.47.
PolyOne Corp. (NYSE:POL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. On average, equities analysts anticipate that PolyOne Corp. will post $2.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 16th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio is currently 30.19%.
Several institutional investors have recently bought and sold shares of the company. Virginia Retirement System acquired a new position in PolyOne Corp. during the first quarter valued at $1,425,000. Pacad Investment Ltd. acquired a new position in PolyOne Corp. during the first quarter valued at $369,000. Prudential Financial Inc. increased its position in 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 in the last quarter. BlackRock Inc. increased its position in PolyOne Corp. by 8.8% in the first quarter. BlackRock Inc. now owns 34,874 shares of the company’s stock valued at $1,055,000 after buying an additional 2,815 shares in the last quarter. Finally, 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. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
About PolyOne Corp.
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