Zacks: Brokerages Expect Trinseo PLC (NYSE:TSE) Will Post Quarterly Sales of $1.36 Billion

Analysts expect Trinseo PLC (NYSE:TSEGet Rating) to post sales of $1.36 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Trinseo’s earnings, with the highest sales estimate coming in at $1.45 billion and the lowest estimate coming in at $1.28 billion. Trinseo posted sales of $1.27 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The company is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Trinseo will report full-year sales of $5.44 billion for the current year, with estimates ranging from $5.15 billion to $5.72 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.92 billion, with estimates ranging from $4.16 billion to $5.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Trinseo.

A number of analysts recently weighed in on the company. Fundamental Research restated a “buy” rating and issued a $10.50 target price on shares of Trinseo in a research report on Tuesday, May 17th. HC Wainwright restated a “buy” rating on shares of Trinseo in a research report on Monday, May 16th. Acumen Capital dropped their target price on Trinseo from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, May 16th. Laurentian Bank of Canada decreased their price target on Trinseo from $16.00 to $14.00 in a research note on Monday, May 16th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Trinseo in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trinseo has an average rating of “Buy” and an average price target of $38.08.

In other news, CEO Frank A. Bozich sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $48.13, for a total transaction of $577,560.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Frank A. Bozich sold 20,957 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $45.96, for a total value of $963,183.72. Following the transaction, the chief executive officer now directly owns 128,219 shares in the company, valued at $5,892,945.24. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of TSE. JPMorgan Chase & Co. grew its stake in Trinseo by 316.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,189,826 shares of the basic materials company’s stock worth $62,418,000 after purchasing an additional 904,287 shares during the period. Geode Capital Management LLC boosted its holdings in Trinseo by 103.2% in the third quarter. Geode Capital Management LLC now owns 1,287,060 shares of the basic materials company’s stock worth $69,475,000 after acquiring an additional 653,776 shares in the last quarter. Norges Bank bought a new stake in Trinseo in the fourth quarter worth $18,520,000. Victory Capital Management Inc. boosted its holdings in Trinseo by 244.2% in the fourth quarter. Victory Capital Management Inc. now owns 493,702 shares of the basic materials company’s stock worth $25,899,000 after acquiring an additional 350,256 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Trinseo in the first quarter worth $13,355,000. 95.05% of the stock is currently owned by institutional investors.

NYSE:TSE opened at $47.09 on Friday. The business has a 50 day moving average of $47.28 and a 200 day moving average of $50.86. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 4.82 and a beta of 1.31. Trinseo has a 1-year low of $40.72 and a 1-year high of $68.50. The company has a debt-to-equity ratio of 2.37, a current ratio of 2.11 and a quick ratio of 1.39.

About Trinseo (Get Rating)

Trinseo PLC, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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