Wall Street brokerages expect PolyOne Co. (NYSE:POL) to report earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for PolyOne’s earnings. The highest EPS estimate is $0.66 and the lowest is $0.65. PolyOne posted earnings of $0.63 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The business is expected to report its next earnings results on Wednesday, July 26th.
On average, analysts expect that PolyOne will report full-year earnings of $2.30 per share for the current year, with EPS estimates ranging from $2.28 to $2.32. For the next financial year, analysts forecast that the company will report earnings of $2.62 per share, with EPS estimates ranging from $2.49 to $2.85. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PolyOne.
PolyOne (NYSE:POL) last released its quarterly earnings data on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm had revenue of $899 million for the quarter, compared to analyst estimates of $860.52 million. PolyOne had a return on equity of 24.77% and a net margin of 4.95%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of PolyOne from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, May 3rd. TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a report on Monday, April 24th. Finally, Jefferies Group LLC raised shares of PolyOne to a “hold” rating and set a $38.00 price target on the stock in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. PolyOne has an average rating of “Buy” and an average target price of $38.75.
PolyOne (NYSE:POL) traded up 1.24% during mid-day trading on Wednesday, reaching $38.27. The company’s stock had a trading volume of 482,184 shares. PolyOne has a 52-week low of $28.77 and a 52-week high of $40.88. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 18.59 and a beta of 1.60. The firm has a 50 day moving average price of $38.08 and a 200 day moving average price of $34.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 16th will be paid a $0.135 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.54 dividend on an annualized basis and a yield of 1.41%. PolyOne’s dividend payout ratio is 27.69%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PolyOne by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 1,370 shares in the last quarter. Victory Capital Management Inc. raised its position in PolyOne by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 1,336 shares in the last quarter. Tyers Asset Management LLC acquired a new position in PolyOne during the fourth quarter worth $150,000. Creative Planning raised its position in PolyOne by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 836 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in PolyOne by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock worth $167,000 after buying an additional 2,126 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; 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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