BidaskClub cut shares of Trinseo S.A. (NYSE:TSE) from a hold rating to a sell rating in a report released on Monday.
Several other brokerages have also commented on TSE. Zacks Investment Research raised shares of Trinseo from a hold rating to a strong-buy rating and set a $82.00 price target for the company in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a buy rating and set a $82.00 price target on shares of Trinseo in a research report on Friday, June 16th. Finally, Citigroup Inc. upped their price target on shares of Trinseo from $67.00 to $70.00 and gave the stock a neutral rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Trinseo presently has a consensus rating of Buy and an average target price of $69.40.
Trinseo (TSE) traded down 9.26% during mid-day trading on Monday, reaching $65.20. 1,879,603 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.87 billion, a PE ratio of 8.45 and a beta of 2.38. The firm’s 50-day moving average is $68.23 and its 200 day moving average is $67.12. Trinseo has a 1-year low of $44.70 and a 1-year high of $72.60.
Trinseo (NYSE:TSE) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by $0.41. Trinseo had a net margin of 10.62% and a return on equity of 96.10%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $2.30 EPS. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts forecast that Trinseo will post $7.49 earnings per share for the current fiscal year.
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Trinseo announced that its board has initiated a stock repurchase program on Thursday, June 22nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th were paid a dividend of $0.36 per share. This is an increase from Trinseo’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, July 7th. Trinseo’s payout ratio is currently 18.60%.
In other news, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $69.49, for a total value of $1,737,250.00. Following the completion of the transaction, the insider now directly owns 265,240 shares in the company, valued at $18,431,527.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the completion of the transaction, the insider now owns 260,240 shares of the company’s stock, valued at $16,655,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,000 shares of company stock valued at $4,362,050. 0.65% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TSE. Daiwa Securities Group Inc. purchased a new position in shares of Trinseo during the second quarter valued at $103,000. Ameritas Investment Partners Inc. purchased a new position in shares of Trinseo during the first quarter valued at $154,000. Ronald Blue & Co. LLC purchased a new position in shares of Trinseo during the first quarter valued at $205,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Trinseo during the first quarter valued at $208,000. Finally, Amalgamated Bank purchased a new position in shares of Trinseo during the first quarter valued at $224,000.
About Trinseo
Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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