Seaport Global Securities Equities Analysts Lower Earnings Estimates for PolyOne Corp. (POL)
PolyOne Corp. (NYSE:POL) – Investment analysts at Seaport Global Securities cut their Q1 2017 earnings per share estimates for shares of PolyOne Corp. in a report issued on Thursday. Seaport Global Securities analyst M. Harrison now forecasts that the brokerage will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.63. Seaport Global Securities also issued estimates for PolyOne Corp.’s Q2 2017 earnings at $0.68 EPS, Q3 2017 earnings at $0.63 EPS, Q4 2017 earnings at $0.52 EPS and FY2017 earnings at $2.45 EPS.
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 Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $861.50 million for the quarter, compared to the consensus estimate of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut PolyOne Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group Inc. cut PolyOne Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $38.00 in a report on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of PolyOne Corp. in a report on Wednesday, July 6th. Finally, Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.00.
PolyOne Corp. (NYSE:POL) opened at 33.81 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 21.33 and a beta of 1.48. The company has a 50 day moving average of $33.30 and a 200-day moving average of $34.50. PolyOne Corp. has a one year low of $22.35 and a one year high of $38.41.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System bought a new position in PolyOne Corp. during the first quarter valued at approximately $1,425,000. Pacad Investment Ltd. bought a new position in PolyOne Corp. during the first quarter valued at approximately $369,000. Prudential Financial Inc. raised 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 during the last quarter. BlackRock Inc. raised 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 during the last quarter. Finally, BlackRock Group LTD raised 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 during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, September 14th. PolyOne Corp.’s payout ratio is 30.19%.
About PolyOne Corp.
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