PolyOne Corp. (POL) Expected to Post Q4 2016 Earnings of $0.42 Per Share
PolyOne Corp. (NYSE:POL) – Investment analysts at Jefferies Group upped their Q4 2016 earnings estimates for PolyOne Corp. in a report released on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the firm will post earnings of $0.42 per share for the quarter, up from their prior forecast of $0.40. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock.
Other equities research analysts also recently issued reports about the stock. Goldman Sachs Group Inc. downgraded shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a report on Wednesday, July 27th. Zacks Investment Research raised shares of PolyOne Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Saturday, July 30th. Finally, Wellington Shields raised shares of 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 given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.33.
Shares of PolyOne Corp. (NYSE:POL) traded down 1.39% during trading on Thursday, reaching $31.20. 157,883 shares of the company’s stock were exchanged. PolyOne Corp. has a 52 week low of $22.35 and a 52 week high of $38.41. The company’s 50-day moving average price is $33.14 and its 200 day moving average price is $34.68. The firm has a market capitalization of $2.62 billion, a PE ratio of 19.68 and a beta of 1.41.
PolyOne Corp. (NYSE:POL) last announced its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company earned $861.50 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share.
A number of hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in PolyOne Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,830 shares of the company’s stock worth $100,000 after buying an additional 1,234 shares in the last quarter. Creative Planning increased its position in shares of PolyOne Corp. by 57.8% in the third quarter. Creative Planning now owns 2,961 shares of the company’s stock worth $100,000 after buying an additional 1,085 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock worth $179,000 after buying an additional 2,119 shares in the last quarter. Capstone Asset Management Co. acquired a new position in shares of PolyOne Corp. during the second quarter worth $202,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of PolyOne Corp. during the second quarter worth $205,000. 92.51% of the stock is owned by institutional investors.
About PolyOne Corp.
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