PolyOne Corporation (POL) Coverage Initiated at CIBC

CIBC initiated coverage on shares of PolyOne Corporation (NYSE:POL) in a research note released on Thursday. The brokerage issued an outperform rating and a $43.00 price objective on the specialty chemicals company’s stock.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of PolyOne Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. BidaskClub lowered shares of PolyOne Corporation from a hold rating to a sell rating in a research note on Friday, June 23rd. Finally, TheStreet upgraded shares of PolyOne Corporation from a c+ rating to a b- rating in a research note on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $40.80.

PolyOne Corporation (NYSE:POL) traded up 0.47% during trading on Thursday, hitting $36.41. 144,451 shares of the stock were exchanged. The stock has a 50 day moving average price of $37.32 and a 200-day moving average price of $36.17. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $40.88. The firm’s market capitalization is $2.98 billion.

PolyOne Corporation (NYSE:POL) last released its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. PolyOne Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. On average, equities research analysts anticipate that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.com-unik.info/2017/08/18/polyone-corporation-pol-coverage-initiated-at-cibc.html.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.135 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.54 dividend on an annualized basis and a yield of 1.49%. PolyOne Corporation’s dividend payout ratio (DPR) is currently -73.97%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of PolyOne Corporation by 13,264.4% in the first quarter. BlackRock Inc. now owns 9,786,179 shares of the specialty chemicals company’s stock worth $333,610,000 after buying an additional 9,712,953 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of PolyOne Corporation during the second quarter worth approximately $51,188,000. Wells Fargo & Company MN raised its position in shares of PolyOne Corporation by 175.0% in the first quarter. Wells Fargo & Company MN now owns 1,871,208 shares of the specialty chemicals company’s stock worth $63,789,000 after buying an additional 1,190,756 shares during the period. Victory Capital Management Inc. raised its position in shares of PolyOne Corporation by 27,668.9% in the second quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock worth $45,429,000 after buying an additional 1,168,456 shares during the period. Finally, GW&K Investment Management LLC bought a new position in shares of PolyOne Corporation during the second quarter worth approximately $36,812,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.

What are top analysts saying about PolyOne Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PolyOne Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit