PolyOne Corporation (NYSE:POL) announced a quarterly dividend on Thursday, July 13th, RTT News reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.135 per share by the specialty chemicals company on Thursday, October 5th. This represents a $0.54 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, September 14th.
PolyOne Corporation has raised its dividend by an average of 27.8% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. PolyOne Corporation has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect PolyOne Corporation to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 21.7%.
Shares of PolyOne Corporation (NYSE:POL) opened at 37.33 on Wednesday. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $40.88. The company’s market capitalization is $3.05 billion. The stock’s 50 day moving average price is $36.39 and its 200 day moving average price is $36.43.
PolyOne Corporation (NYSE:POL) last posted its earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The firm had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. During the same quarter in the prior year, the company earned $0.59 EPS. PolyOne Corporation’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.
Several research firms recently issued reports on POL. Zacks Investment Research lowered PolyOne Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. BidaskClub downgraded PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. started coverage on PolyOne Corporation in a report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, CIBC started coverage on PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.80.
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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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