Brokerages Expect PolyOne Corporation (POL) Will Announce Quarterly Sales of $791.00 Million
Wall Street analysts expect PolyOne Corporation (NYSE:POL) to report sales of $791.00 million for the current quarter, Zacks reports. Five analysts have provided estimates for PolyOne Corporation’s earnings, with the lowest sales estimate coming in at $775.00 million and the highest estimate coming in at $805.80 million. PolyOne Corporation reported sales of $843.60 million in the same quarter last year, which indicates a negative year over year growth rate of 6.2%. The company is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that PolyOne Corporation will report full-year sales of $791.00 million for the current year, with estimates ranging from $3.11 billion to $3.24 billion. For the next financial year, analysts expect that the business will post sales of $3.28 billion per share, with estimates ranging from $3.22 billion to $3.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for PolyOne Corporation.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to analysts’ expectations of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS.
POL has been the subject of a number of analyst reports. Zacks Investment Research upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. CIBC started coverage on PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target for the company. Finally, Oppenheimer Holdings, Inc. started coverage on PolyOne Corporation in a report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.80.
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Shares of PolyOne Corporation (NYSE:POL) remained flat at $36.05 during midday trading on Monday. 286,556 shares of the company traded hands. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $40.88. The stock’s 50-day moving average is $36.58 and its 200-day moving average is $36.39. The stock’s market cap is $2.95 billion.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.50%. PolyOne Corporation’s payout ratio is -73.97%.
A number of hedge funds have recently bought and sold shares of POL. Creative Planning raised its stake in PolyOne Corporation by 22.7% during the 1st quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 836 shares during the period. Capstone Asset Management Co. purchased a new stake in shares of PolyOne Corporation in the first quarter worth approximately $248,000. Oregon Public Employees Retirement Fund raised its stake in shares of PolyOne Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 30,687 shares of the specialty chemicals company’s stock worth $1,046,000 after purchasing an additional 400 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of PolyOne Corporation by 175.0% in the first quarter. Wells Fargo & Company MN now owns 1,871,208 shares of the specialty chemicals company’s stock worth $63,789,000 after purchasing an additional 1,190,756 shares during the last quarter. Finally, Bowling Portfolio Management LLC purchased a new stake in shares of PolyOne Corporation in the first quarter worth approximately $240,000. 94.37% of the stock is currently owned by institutional investors and hedge funds.
PolyOne Corporation Company Profile
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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