Citigroup Downgrades Trinseo (NYSE:TSE) to Neutral

Citigroup cut shares of Trinseo (NYSE:TSE) from a buy rating to a neutral rating in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have $32.00 price objective on the basic materials company’s stock, down from their prior price objective of $48.00.

A number of other equities research analysts also recently weighed in on TSE. ValuEngine upgraded Trinseo from a strong sell rating to a sell rating in a report on Wednesday, June 12th. TheStreet downgraded Trinseo from a b- rating to a c+ rating in a research note on Friday, May 17th. Deutsche Bank lowered their price objective on Trinseo from $55.00 to $50.00 and set a buy rating for the company in a research note on Monday, July 1st. They noted that the move was a valuation call. Goldman Sachs Group downgraded Trinseo from a neutral rating to a sell rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research downgraded Trinseo from a hold rating to a strong sell rating in a research note on Thursday, July 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $49.86.

Shares of NYSE TSE opened at $29.29 on Tuesday. Trinseo has a twelve month low of $27.37 and a twelve month high of $82.18. The company has a current ratio of 2.83, a quick ratio of 2.05 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 4.04, a price-to-earnings-growth ratio of 0.56 and a beta of 2.02. The business has a 50 day simple moving average of $37.24 and a 200-day simple moving average of $43.16.

Trinseo (NYSE:TSE) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.63). Trinseo had a net margin of 3.25% and a return on equity of 22.71%. The firm had revenue of $951.80 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.40 earnings per share. Trinseo’s revenue was down 23.0% compared to the same quarter last year. As a group, equities analysts predict that Trinseo will post 4.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. 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 stock was sold at an average price of $38.17, for a total value of $468,116.88. Following the completion of the transaction, the insider now owns 15,901 shares of the company’s stock, valued at $606,941.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $193,970.50. Following the completion of the transaction, the insider now directly owns 15,901 shares of the company’s stock, 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.

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Trinseo in the second quarter worth $42,000. Price Wealth Management Inc. bought a new position in shares of Trinseo in the second quarter worth $54,000. NumerixS Investment Technologies Inc grew its stake in shares of Trinseo by 218.7% in the second quarter. NumerixS Investment Technologies Inc now owns 2,728 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 1,872 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Trinseo in the second quarter worth $152,000. Finally, Quantamental Technologies LLC bought a new position in shares of Trinseo in the second quarter worth $187,000. 96.81% of the stock is owned by institutional investors.

Trinseo Company Profile

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.

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Analyst Recommendations for Trinseo (NYSE:TSE)

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