KeyCorp Reiterates $47.00 Price Target for PolyOne Corporation (POL)

KeyCorp set a $47.00 price target on PolyOne Corporation (NYSE:POL) in a report published on Thursday. The firm currently has a buy rating on the specialty chemicals company’s stock. KeyCorp also issued estimates for PolyOne Corporation’s Q4 2017 earnings at $0.40 EPS.

Other analysts also recently issued research reports about the stock. CIBC began coverage on shares of PolyOne Corporation in a research note on Thursday, August 17th. They set an outperform rating and a $43.00 price target for the company. BidaskClub downgraded shares of PolyOne Corporation from a hold rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of PolyOne Corporation from a sell rating to a hold rating in a research note on Friday, August 18th. Oppenheimer Holdings, Inc. started coverage on shares of PolyOne Corporation in a research note on Wednesday, August 16th. They issued an outperform rating and a $43.00 price objective for the company. Finally, Robert W. Baird reissued a buy rating and issued a $42.00 price objective on shares of PolyOne Corporation in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. PolyOne Corporation has a consensus rating of Buy and a consensus price target of $43.17.

PolyOne Corporation (NYSE POL) traded down 0.20% during mid-day trading on Thursday, hitting $45.18. The company had a trading volume of 826,678 shares. The firm’s market capitalization is $3.70 billion. The company has a 50 day moving average of $40.22 and a 200 day moving average of $38.05. PolyOne Corporation has a 1-year low of $28.85 and a 1-year high of $46.22.

PolyOne Corporation (NYSE:POL) last posted its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. PolyOne Corporation had a negative net margin of 1.87% and a positive return on equity of 27.77%. The firm had revenue of $818.50 million during the quarter, compared to the consensus estimate of $789.32 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Analysts predict that PolyOne Corporation will post $2.20 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be paid a $0.175 dividend. This is an increase from PolyOne Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. This represents a $0.70 dividend on an annualized basis and a yield of 1.55%. PolyOne Corporation’s payout ratio is -71.05%.

A number of large investors have recently modified their holdings of POL. BlackRock Inc. raised its stake in 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 in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in PolyOne Corporation in the second quarter worth $51,188,000. Victory Capital Management Inc. grew its holdings in 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 purchasing an additional 1,168,456 shares during the last quarter. GW&K Investment Management LLC purchased a new position in PolyOne Corporation in the second quarter worth $36,812,000. Finally, American Century Companies Inc. purchased a new position in PolyOne Corporation in the second quarter worth $23,982,000. 94.16% of the stock is owned by institutional investors.

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.

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