Equities research analysts expect PolyOne Corporation (NYSE:POL) to announce sales of $791.00 million for the current quarter, according to Zacks. Five analysts have provided estimates for PolyOne Corporation’s earnings. The highest sales estimate is $805.80 million and the lowest is $775.00 million. PolyOne Corporation posted sales of $843.60 million in the same quarter last year, which suggests a negative year over year growth rate of 6.2%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, October 25th.
On average, analysts expect that PolyOne Corporation will report full year sales of $791.00 million for the current financial year, with estimates ranging from $3.11 billion to $3.24 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.28 billion per share, with estimates ranging from $3.22 billion to $3.35 billion. Zacks’ sales averages are an average based on a survey of analysts that cover PolyOne Corporation.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to the consensus estimate of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. PolyOne Corporation’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share.
POL has been the topic of a number of research reports. Zacks Investment Research downgraded PolyOne Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. BidaskClub downgraded PolyOne Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 price target on shares of PolyOne Corporation in a research note on Friday, September 15th. Oppenheimer Holdings, Inc. initiated coverage on PolyOne Corporation in a research note on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, CIBC initiated coverage on PolyOne Corporation in a research note on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.25.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in PolyOne Corporation by 19.8% during the 1st quarter. Legal & General Group Plc now owns 78,003 shares of the specialty chemicals company’s stock worth $2,659,000 after purchasing an additional 12,873 shares in the last quarter. Victory Capital Management Inc. increased its holdings in PolyOne Corporation by 27,668.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock worth $45,429,000 after purchasing an additional 1,168,456 shares in the last quarter. Keybank National Association OH bought a new stake in PolyOne Corporation during the 2nd quarter worth approximately $1,240,000. Strs Ohio increased its holdings in PolyOne Corporation by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock worth $340,000 after purchasing an additional 500 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in PolyOne Corporation during the 1st quarter worth approximately $232,000. 93.99% of the stock is owned by hedge funds and other institutional investors.
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PolyOne Corporation (NYSE POL) opened at 40.90 on Wednesday. The company’s 50 day moving average price is $38.11 and its 200-day moving average price is $37.32. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $41.24. The company’s market capitalization is $3.35 billion.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, September 14th. PolyOne Corporation’s dividend payout ratio is currently -73.97%.
About PolyOne Corporation
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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