Trinseo (NYSE:TSE) Lowered to “Neutral” at Citigroup

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Citigroup lowered shares of Trinseo (NYSE:TSE) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $32.00 price target on the basic materials company’s stock, down from their previous price target of $48.00.

A number of other research firms have also recently issued reports on TSE. Zacks Investment Research cut shares of Trinseo from a hold rating to a strong sell rating in a report on Thursday, July 4th. TheStreet cut shares of Trinseo from a b- rating to a c+ rating in a report on Friday, May 17th. Goldman Sachs Group cut shares of Trinseo from a neutral rating to a sell rating in a report on Wednesday, July 17th. ValuEngine raised shares of Trinseo from a strong sell rating to a sell rating in a report on Wednesday, June 12th. Finally, Deutsche Bank decreased their price target on shares of Trinseo from $55.00 to $50.00 and set a buy rating for the company in a report on Monday, July 1st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $54.83.

NYSE:TSE opened at $30.16 on Tuesday. Trinseo has a 52 week low of $27.37 and a 52 week high of $82.18. The company’s 50 day moving average price is $38.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.81 and a quick ratio of 2.05. The stock has a market capitalization of $1.26 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.57 and a beta of 2.02.

Trinseo (NYSE:TSE) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.63). The company had revenue of $951.80 million during the quarter, compared to analysts’ expectations of $1.07 billion. Trinseo had a return on equity of 22.44% and a net margin of 3.25%. The company’s quarterly revenue was down 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 EPS. On average, equities analysts anticipate that Trinseo will post 4.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.40 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.31%. Trinseo’s payout ratio is currently 22.07%.

In other news, insider Catherine C. Keenan sold 12,264 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $38.17, for a total value of $468,116.88. Following the sale, the insider now owns 15,901 shares in the company, valued at $606,941.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catherine C. Keenan sold 5,050 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $38.41, for a total transaction of $193,970.50. Following the completion of the sale, the insider now owns 15,901 shares in the company, valued at approximately $610,757.41. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. LSV Asset Management grew its position in Trinseo by 5.1% during the first quarter. LSV Asset Management now owns 2,470,156 shares of the basic materials company’s stock valued at $111,898,000 after buying an additional 118,850 shares during the period. Prudential Financial Inc. grew its position in Trinseo by 124.0% during the second quarter. Prudential Financial Inc. now owns 1,199,121 shares of the basic materials company’s stock valued at $50,771,000 after buying an additional 663,792 shares during the period. JPMorgan Chase & Co. grew its position in Trinseo by 7.1% during the second quarter. JPMorgan Chase & Co. now owns 1,147,764 shares of the basic materials company’s stock valued at $48,195,000 after buying an additional 75,983 shares during the period. Norges Bank acquired a new stake in Trinseo during the fourth quarter valued at $34,146,000. Finally, FMR LLC grew its position in Trinseo by 151.9% during the fourth quarter. FMR LLC now owns 678,340 shares of the basic materials company’s stock valued at $31,054,000 after buying an additional 409,062 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

About Trinseo

Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

See Also: Buy Rating

Analyst Recommendations for Trinseo (NYSE:TSE)

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