PolyOne Co. (NYSE:POL) declared a quarterly dividend on Thursday, May 17th, RTT News reports. Investors of record on Friday, June 15th will be given a dividend of 0.175 per share by the specialty chemicals company on Friday, July 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.61%.
PolyOne has increased its dividend payment by an average of 19.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. PolyOne has a payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PolyOne to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 24.4%.
PolyOne opened at $43.60 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.25 and a current ratio of 1.81. PolyOne has a fifty-two week low of $42.93 and a fifty-two week high of $43.18. The firm has a market cap of $3.47 billion, a P/E ratio of 18.89, a PEG ratio of 1.63 and a beta of 1.68.
PolyOne (NYSE:POL) last released its earnings results on Thursday, April 26th. The specialty chemicals company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. PolyOne had a negative net margin of 1.73% and a positive return on equity of 32.45%. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $870.60 million. During the same quarter in the previous year, the company earned $0.59 EPS. PolyOne’s revenue for the quarter was up 13.2% on a year-over-year basis. equities analysts expect that PolyOne will post 2.57 earnings per share for the current year.
A number of research analysts recently weighed in on POL shares. Zacks Investment Research upgraded shares of PolyOne from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 23rd. SunTrust Banks restated a “buy” rating on shares of PolyOne in a research note on Monday, January 29th. ValuEngine upgraded shares of PolyOne from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. KeyCorp restated a “buy” rating and set a $50.00 target price on shares of PolyOne in a research note on Monday, January 29th. Finally, Northcoast Research restated a “neutral” rating on shares of PolyOne in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.29.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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