Trinseo S.A. (NYSE:TSE) announced a quarterly dividend on Thursday, June 11th, Wall Street Journal reports. Stockholders of record on Thursday, July 9th will be given a dividend of 0.40 per share by the basic materials company on Thursday, July 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Wednesday, July 8th.
Trinseo has a dividend payout ratio of -326.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Trinseo to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 97.6%.
Trinseo stock opened at $22.51 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.99 and a quick ratio of 2.14. The stock has a market capitalization of $860.76 million, a price-to-earnings ratio of 9.92 and a beta of 1.75. Trinseo has a 1-year low of $14.16 and a 1-year high of $50.14. The business has a fifty day moving average price of $21.73 and a 200-day moving average price of $24.69.
Trinseo (NYSE:TSE) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.17. Trinseo had a return on equity of 13.41% and a net margin of 0.55%. The company had revenue of $853.50 million during the quarter, compared to analysts’ expectations of $930.44 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was down 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Trinseo will post -1.14 earnings per share for the current fiscal year.
In other news, major shareholder M&G Investment Management Ltd sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $23.14, for a total value of $462,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on TSE shares. Morgan Stanley cut Trinseo from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $19.00 to $14.00 in a report on Thursday, May 28th. Citigroup cut their price target on Trinseo from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group restated a “hold” rating on shares of Trinseo in a research note on Wednesday, June 17th. ValuEngine upgraded Trinseo from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Finally, Barclays cut their price target on Trinseo from $34.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $23.50.
Trinseo Company Profile
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
Further Reading: Outperform Rating
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