PolyOne Co. (NYSE:POL) Expected to Post FY2019 Earnings of $1.65 Per Share

PolyOne Co. (NYSE:POL) – Analysts at SunTrust Banks increased their FY2019 earnings estimates for shares of PolyOne in a research note issued to investors on Tuesday, January 14th. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will post earnings of $1.65 per share for the year, up from their prior estimate of $1.62. SunTrust Banks also issued estimates for PolyOne’s Q4 2019 earnings at $0.30 EPS.

PolyOne (NYSE:POL) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. PolyOne had a net margin of 4.03% and a return on equity of 30.57%. The firm had revenue of $705.00 million for the quarter, compared to the consensus estimate of $721.91 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year.

A number of other brokerages also recently issued reports on POL. ValuEngine downgraded shares of PolyOne from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Zacks Investment Research raised shares of PolyOne from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 8th. Wells Fargo & Co raised shares of PolyOne from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Tuesday. Finally, TheStreet downgraded shares of PolyOne from a “b-” rating to a “c+” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. PolyOne has a consensus rating of “Buy” and an average price target of $36.43.

Shares of NYSE POL opened at $36.74 on Friday. The company’s fifty day moving average price is $34.14 and its 200 day moving average price is $32.48. PolyOne has a 1 year low of $24.47 and a 1 year high of $37.33. The company has a market capitalization of $2.75 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.73. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.43 and a current ratio of 1.88.

Several hedge funds and other institutional investors have recently modified their holdings of POL. Nuveen Asset Management LLC acquired a new stake in shares of PolyOne in the second quarter valued at about $31,150,000. Victory Capital Management Inc. increased its position in PolyOne by 71.4% during the second quarter. Victory Capital Management Inc. now owns 2,280,943 shares of the specialty chemicals company’s stock worth $71,599,000 after purchasing an additional 950,280 shares during the last quarter. Millennium Management LLC increased its position in PolyOne by 3,010.1% during the third quarter. Millennium Management LLC now owns 651,944 shares of the specialty chemicals company’s stock worth $21,285,000 after purchasing an additional 630,982 shares during the last quarter. BlackRock Inc. boosted its stake in PolyOne by 5.2% during the second quarter. BlackRock Inc. now owns 9,859,150 shares of the specialty chemicals company’s stock worth $309,478,000 after buying an additional 491,079 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in PolyOne by 61.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,152,501 shares of the specialty chemicals company’s stock worth $36,177,000 after buying an additional 438,560 shares during the period. Institutional investors and hedge funds own 91.91% of the company’s stock.

About PolyOne

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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