Brokerages Anticipate PolyOne Co. (NYSE:POL) Will Announce Earnings of $0.66 Per Share

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Analysts predict that PolyOne Co. (NYSE:POL) will report earnings of $0.66 per share for the current quarter, Zacks reports. Three analysts have provided estimates for PolyOne’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.67. PolyOne reported earnings of $0.62 per share during the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The firm is scheduled to report its next earnings report on Wednesday, October 23rd.

On average, analysts expect that PolyOne will report full year earnings of $2.54 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $2.56. For the next financial year, analysts forecast that the business will post earnings of $2.77 per share, with EPS estimates ranging from $2.70 to $2.81. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for PolyOne.

PolyOne (NYSE:POL) last announced its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. PolyOne had a return on equity of 33.07% and a net margin of 4.03%. The firm had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $933.34 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis.

POL has been the subject of several research reports. Robert W. Baird raised PolyOne from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $36.00 in a research note on Monday, July 22nd. TheStreet raised PolyOne from a “c+” rating to a “b-” rating in a research note on Thursday, July 25th. SunTrust Banks upgraded PolyOne from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Friday, May 31st. Zacks Investment Research downgraded PolyOne from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Wellington Shields upgraded PolyOne from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.86.

Shares of POL stock traded down $1.29 during trading on Friday, hitting $31.56. The company had a trading volume of 1,225,722 shares, compared to its average volume of 603,460. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 2.53. The stock’s 50-day moving average is $31.95 and its two-hundred day moving average is $29.81. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.73. PolyOne has a 52 week low of $24.47 and a 52 week high of $45.34.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.195 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.78 annualized dividend and a yield of 2.47%. PolyOne’s payout ratio is 32.10%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of PolyOne by 5.2% during the 2nd quarter. BlackRock Inc. now owns 9,859,150 shares of the specialty chemicals company’s stock valued at $309,478,000 after buying an additional 491,079 shares in the last quarter. Luminus Management LLC bought a new stake in PolyOne in the 2nd quarter worth approximately $10,440,000. Royal Bank of Canada increased its stake in PolyOne by 29.1% in the 2nd quarter. Royal Bank of Canada now owns 31,414 shares of the specialty chemicals company’s stock worth $986,000 after acquiring an additional 7,074 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of PolyOne in the 2nd quarter worth approximately $975,000. Finally, Doyle Wealth Management purchased a new position in shares of PolyOne in the 2nd quarter worth approximately $68,000. 92.12% of the stock is currently owned by hedge funds and other institutional investors.

PolyOne Company Profile

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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Earnings History and Estimates for PolyOne (NYSE:POL)

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