Brokers Issue Forecasts for PolyOne Co.’s Q3 2018 Earnings (POL)

PolyOne Co. (NYSE:POL) – Stock analysts at Seaport Global Securities cut their Q3 2018 earnings estimates for shares of PolyOne in a research note issued to investors on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will earn $0.59 per share for the quarter, down from their prior forecast of $0.62. Seaport Global Securities also issued estimates for PolyOne’s Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $2.46 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.61 EPS and FY2019 earnings at $2.86 EPS.

PolyOne (NYSE:POL) last issued its quarterly earnings results on Tuesday, July 24th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. PolyOne had a return on equity of 32.92% and a net margin of 5.09%. The company had revenue of $914.80 million for the quarter, compared to analysts’ expectations of $908.12 million. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.

Several other equities analysts have also recently issued reports on POL. ValuEngine upgraded PolyOne from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. SunTrust Banks cut PolyOne from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research cut PolyOne from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.67.

Shares of POL stock opened at $37.83 on Thursday. PolyOne has a 1 year low of $35.69 and a 1 year high of $47.48. The firm has a market cap of $3.50 billion, a PE ratio of 17.12, a PEG ratio of 1.62 and a beta of 1.44. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.22 and a current ratio of 1.76.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, December 14th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from PolyOne’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 2.06%. PolyOne’s dividend payout ratio (DPR) is 31.67%.

In related news, CEO Robert M. Patterson sold 20,000 shares of PolyOne stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $43.61, for a total value of $872,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of PolyOne by 6.8% in the 2nd quarter. BlackRock Inc. now owns 9,338,968 shares of the specialty chemicals company’s stock worth $403,631,000 after acquiring an additional 596,343 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of PolyOne by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 2,726,854 shares of the specialty chemicals company’s stock worth $117,855,000 after acquiring an additional 17,590 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of PolyOne by 0.8% in the 2nd quarter. Jennison Associates LLC now owns 1,664,386 shares of the specialty chemicals company’s stock worth $71,935,000 after acquiring an additional 13,378 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of PolyOne by 14.8% in the 2nd quarter. Voya Investment Management LLC now owns 1,508,290 shares of the specialty chemicals company’s stock worth $65,188,000 after acquiring an additional 194,166 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of PolyOne by 3.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,447,057 shares of the specialty chemicals company’s stock worth $62,541,000 after acquiring an additional 46,555 shares during the last quarter. Institutional investors and hedge funds own 95.82% of the company’s stock.

PolyOne Company Profile

PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.

Further Reading: Book Value Per Share – BVPS

Earnings History and Estimates for PolyOne (NYSE:POL)

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