Wall Street brokerages predict that PolyOne Co. (NYSE:POL) will announce earnings per share (EPS) of $0.45 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for PolyOne’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.41. PolyOne reported earnings per share of $0.64 during the same quarter last year, which would suggest a negative year-over-year growth rate of 29.7%. The firm is expected to report its next quarterly earnings results on Wednesday, April 15th.
According to Zacks, analysts expect that PolyOne will report full-year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.70 to $1.87. For the next year, analysts anticipate that the business will post earnings of $2.19 per share, with EPS estimates ranging from $2.05 to $2.65. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover PolyOne.
PolyOne (NYSE:POL) last issued its quarterly earnings data on Tuesday, January 28th. The specialty chemicals company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. PolyOne had a net margin of 18.58% and a return on equity of 24.03%. The business had revenue of $658.60 million during the quarter, compared to analyst estimates of $687.36 million. During the same period last year, the business posted $0.24 earnings per share. PolyOne’s quarterly revenue was down 2.7% compared to the same quarter last year.
Several brokerages have commented on POL. Wells Fargo & Co upgraded shares of PolyOne from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Tuesday, January 14th. ValuEngine lowered shares of PolyOne from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Zacks Investment Research upgraded shares of PolyOne from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Thursday, February 20th. Finally, TheStreet lowered shares of PolyOne from a “b-” rating to a “c+” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.71.
In other PolyOne news, Director Richard H. Fearon bought 3,500 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $28.49 per share, with a total value of $99,715.00. Following the completion of the purchase, the director now owns 103,980 shares of the company’s stock, valued at $2,962,390.20. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in POL. CBIZ Investment Advisory Services LLC bought a new position in shares of PolyOne during the fourth quarter valued at approximately $55,000. Group One Trading L.P. bought a new position in shares of PolyOne during the fourth quarter valued at approximately $74,000. Aigen Investment Management LP bought a new position in shares of PolyOne during the fourth quarter valued at approximately $97,000. Strs Ohio increased its stake in shares of PolyOne by 30.0% during the third quarter. Strs Ohio now owns 3,900 shares of the specialty chemicals company’s stock valued at $127,000 after purchasing an additional 900 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in shares of PolyOne during the fourth quarter valued at approximately $173,000. 92.10% of the stock is owned by institutional investors and hedge funds.
POL traded down $0.24 on Wednesday, hitting $25.77. The company had a trading volume of 1,122,300 shares, compared to its average volume of 1,179,242. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.15 and a quick ratio of 1.78. PolyOne has a 52-week low of $24.47 and a 52-week high of $37.33. The stock has a fifty day simple moving average of $33.43 and a 200-day simple moving average of $32.86. The firm has a market capitalization of $2.62 billion, a P/E ratio of 3.40, a P/E/G ratio of 1.86 and a beta of 1.74.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, March 16th. PolyOne’s dividend payout ratio is 47.93%.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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