Intrinsic value of Trinseo - TSE

Previous Close

$49.36

  Intrinsic Value

$115.32

stock screener

  Rating & Target

str. buy

+134%

Previous close

$49.36

 
Intrinsic value

$115.32

 
Up/down potential

+134%

 
Rating

str. buy

We calculate the intrinsic value of TSE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
  5.16
  5.14
Revenue, $m
  4,804
  5,174
  5,558
  5,958
  6,373
  6,804
  7,253
  7,720
  8,206
  8,711
  9,238
  9,787
  10,359
  10,956
  11,579
  12,229
  12,909
  13,619
  14,361
  15,137
  15,950
  16,799
  17,689
  18,620
  19,596
  20,618
  21,689
  22,811
  23,988
  25,221
Variable operating expenses, $m
  4,350
  4,683
  5,029
  5,388
  5,762
  6,150
  6,554
  6,974
  7,411
  7,866
  8,311
  8,805
  9,320
  9,857
  10,418
  11,003
  11,614
  12,253
  12,921
  13,619
  14,350
  15,114
  15,915
  16,753
  17,631
  18,550
  19,514
  20,523
  21,582
  22,691
Fixed operating expenses, $m
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  7
  8
  8
Total operating expenses, $m
  4,354
  4,687
  5,033
  5,392
  5,766
  6,155
  6,559
  6,979
  7,416
  7,871
  8,316
  8,810
  9,325
  9,862
  10,424
  11,009
  11,620
  12,259
  12,927
  13,625
  14,356
  15,120
  15,922
  16,760
  17,638
  18,557
  19,521
  20,530
  21,590
  22,699
Operating income, $m
  450
  487
  525
  565
  607
  650
  695
  742
  790
  841
  921
  976
  1,034
  1,093
  1,156
  1,221
  1,289
  1,360
  1,434
  1,512
  1,593
  1,678
  1,768
  1,861
  1,958
  2,061
  2,168
  2,280
  2,398
  2,522
EBITDA, $m
  579
  624
  670
  719
  769
  821
  876
  932
  991
  1,052
  1,116
  1,183
  1,252
  1,324
  1,400
  1,479
  1,561
  1,647
  1,737
  1,831
  1,930
  2,033
  2,140
  2,253
  2,372
  2,495
  2,625
  2,761
  2,904
  3,054
Interest expense (income), $m
  69
  70
  80
  91
  102
  113
  125
  137
  150
  163
  177
  191
  206
  221
  238
  255
  272
  291
  310
  330
  351
  373
  396
  420
  445
  471
  499
  528
  558
  590
  623
Earnings before tax, $m
  379
  406
  434
  463
  494
  525
  558
  592
  627
  664
  730
  770
  812
  856
  901
  949
  998
  1,050
  1,104
  1,161
  1,220
  1,283
  1,348
  1,416
  1,487
  1,562
  1,640
  1,722
  1,808
  1,899
Tax expense, $m
  102
  110
  117
  125
  133
  142
  151
  160
  169
  179
  197
  208
  219
  231
  243
  256
  270
  284
  298
  314
  330
  346
  364
  382
  402
  422
  443
  465
  488
  513
Net income, $m
  277
  297
  317
  338
  360
  383
  407
  432
  458
  485
  533
  562
  593
  625
  658
  693
  729
  767
  806
  848
  891
  936
  984
  1,033
  1,086
  1,140
  1,197
  1,257
  1,320
  1,386

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,993
  3,224
  3,463
  3,712
  3,971
  4,240
  4,519
  4,810
  5,112
  5,428
  5,756
  6,098
  6,454
  6,826
  7,214
  7,620
  8,043
  8,485
  8,948
  9,431
  9,937
  10,467
  11,021
  11,602
  12,209
  12,846
  13,513
  14,213
  14,945
  15,714
Adjusted assets (=assets-cash), $m
  2,993
  3,224
  3,463
  3,712
  3,971
  4,240
  4,519
  4,810
  5,112
  5,428
  5,756
  6,098
  6,454
  6,826
  7,214
  7,620
  8,043
  8,485
  8,948
  9,431
  9,937
  10,467
  11,021
  11,602
  12,209
  12,846
  13,513
  14,213
  14,945
  15,714
Revenue / Adjusted assets
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
  1.605
Average production assets, $m
  749
  807
  867
  929
  994
  1,061
  1,131
  1,204
  1,280
  1,359
  1,441
  1,527
  1,616
  1,709
  1,806
  1,908
  2,014
  2,125
  2,240
  2,361
  2,488
  2,621
  2,759
  2,905
  3,057
  3,216
  3,383
  3,559
  3,742
  3,934
Working capital, $m
  639
  688
  739
  792
  848
  905
  965
  1,027
  1,091
  1,159
  1,229
  1,302
  1,378
  1,457
  1,540
  1,627
  1,717
  1,811
  1,910
  2,013
  2,121
  2,234
  2,353
  2,477
  2,606
  2,742
  2,885
  3,034
  3,190
  3,354
Total debt, $m
  1,341
  1,515
  1,696
  1,885
  2,081
  2,284
  2,496
  2,716
  2,945
  3,183
  3,432
  3,691
  3,961
  4,242
  4,536
  4,843
  5,163
  5,498
  5,848
  6,214
  6,597
  6,998
  7,418
  7,857
  8,317
  8,799
  9,304
  9,834
  10,389
  10,970
Total liabilities, $m
  2,266
  2,440
  2,622
  2,810
  3,006
  3,209
  3,421
  3,641
  3,870
  4,109
  4,357
  4,616
  4,886
  5,167
  5,461
  5,768
  6,088
  6,423
  6,773
  7,140
  7,523
  7,923
  8,343
  8,782
  9,242
  9,725
  10,230
  10,759
  11,314
  11,895
Total equity, $m
  727
  783
  842
  902
  965
  1,030
  1,098
  1,169
  1,242
  1,319
  1,399
  1,482
  1,568
  1,659
  1,753
  1,852
  1,954
  2,062
  2,174
  2,292
  2,415
  2,543
  2,678
  2,819
  2,967
  3,122
  3,284
  3,454
  3,632
  3,818
Total liabilities and equity, $m
  2,993
  3,223
  3,464
  3,712
  3,971
  4,239
  4,519
  4,810
  5,112
  5,428
  5,756
  6,098
  6,454
  6,826
  7,214
  7,620
  8,042
  8,485
  8,947
  9,432
  9,938
  10,466
  11,021
  11,601
  12,209
  12,847
  13,514
  14,213
  14,946
  15,713
Debt-to-equity ratio
  1.840
  1.930
  2.020
  2.090
  2.160
  2.220
  2.270
  2.320
  2.370
  2.410
  2.450
  2.490
  2.530
  2.560
  2.590
  2.620
  2.640
  2.670
  2.690
  2.710
  2.730
  2.750
  2.770
  2.790
  2.800
  2.820
  2.830
  2.850
  2.860
  2.870
Adjusted equity ratio
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243
  0.243

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  277
  297
  317
  338
  360
  383
  407
  432
  458
  485
  533
  562
  593
  625
  658
  693
  729
  767
  806
  848
  891
  936
  984
  1,033
  1,086
  1,140
  1,197
  1,257
  1,320
  1,386
Depreciation, amort., depletion, $m
  129
  137
  145
  154
  162
  171
  181
  191
  201
  212
  195
  206
  218
  231
  244
  258
  272
  287
  303
  319
  336
  354
  373
  393
  413
  435
  457
  481
  506
  532
Funds from operations, $m
  406
  434
  462
  492
  523
  555
  588
  623
  659
  696
  728
  769
  811
  856
  902
  950
  1,001
  1,054
  1,109
  1,167
  1,227
  1,290
  1,357
  1,426
  1,499
  1,575
  1,655
  1,738
  1,826
  1,918
Change in working capital, $m
  47
  49
  51
  53
  55
  57
  60
  62
  65
  67
  70
  73
  76
  79
  83
  87
  90
  94
  99
  103
  108
  113
  118
  124
  130
  136
  142
  149
  156
  164
Cash from operations, $m
  359
  384
  411
  439
  467
  497
  528
  561
  594
  629
  658
  696
  735
  776
  819
  864
  911
  959
  1,010
  1,063
  1,119
  1,177
  1,238
  1,302
  1,369
  1,439
  1,512
  1,589
  1,669
  1,754
Maintenance CAPEX, $m
  -94
  -101
  -109
  -117
  -126
  -134
  -143
  -153
  -163
  -173
  -184
  -195
  -206
  -218
  -231
  -244
  -258
  -272
  -287
  -303
  -319
  -336
  -354
  -373
  -393
  -413
  -435
  -457
  -481
  -506
New CAPEX, $m
  -57
  -58
  -60
  -62
  -65
  -67
  -70
  -73
  -76
  -79
  -82
  -86
  -89
  -93
  -97
  -101
  -106
  -111
  -116
  -121
  -127
  -133
  -139
  -145
  -152
  -159
  -167
  -175
  -184
  -192
Cash from investing activities, $m
  -151
  -159
  -169
  -179
  -191
  -201
  -213
  -226
  -239
  -252
  -266
  -281
  -295
  -311
  -328
  -345
  -364
  -383
  -403
  -424
  -446
  -469
  -493
  -518
  -545
  -572
  -602
  -632
  -665
  -698
Free cash flow, $m
  208
  225
  242
  259
  277
  296
  315
  335
  356
  377
  392
  415
  440
  465
  491
  518
  547
  576
  607
  640
  673
  709
  745
  784
  824
  866
  910
  957
  1,005
  1,056
Issuance/(repayment) of debt, $m
  169
  174
  181
  188
  196
  204
  212
  220
  229
  238
  248
  259
  270
  282
  294
  307
  320
  335
  350
  366
  383
  401
  420
  439
  460
  482
  505
  529
  555
  582
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  169
  174
  181
  188
  196
  204
  212
  220
  229
  238
  248
  259
  270
  282
  294
  307
  320
  335
  350
  366
  383
  401
  420
  439
  460
  482
  505
  529
  555
  582
Total cash flow (excl. dividends), $m
  377
  400
  423
  448
  473
  499
  527
  555
  585
  616
  641
  674
  709
  746
  785
  825
  867
  911
  957
  1,006
  1,056
  1,109
  1,165
  1,223
  1,284
  1,348
  1,415
  1,486
  1,560
  1,637
Retained Cash Flow (-), $m
  -53
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -87
  -90
  -94
  -98
  -103
  -107
  -112
  -118
  -123
  -129
  -135
  -141
  -148
  -155
  -162
  -170
  -178
  -187
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  324
  344
  365
  387
  410
  434
  459
  484
  511
  539
  561
  591
  623
  656
  691
  727
  764
  804
  845
  888
  933
  981
  1,030
  1,082
  1,137
  1,194
  1,253
  1,316
  1,382
  1,450
Discount rate, %
  4.90
  5.15
  5.40
  5.67
  5.96
  6.25
  6.57
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
PV of cash for distribution, $m
  309
  311
  312
  311
  307
  302
  294
  284
  273
  259
  241
  225
  208
  190
  172
  154
  136
  118
  102
  86
  72
  59
  47
  37
  29
  22
  16
  12
  8
  6
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Trinseo S.A. 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. The Synthetic Rubber segment produces synthetic rubber products used in tires, impact modifiers and technical rubber products. The Performance Plastics segment produces compounds and blends and specialized acrylonitrile-butadiene-styrene (ABS) grades. The Basic Plastics segment produces styrenic polymers, including polystyrene, basic ABS, and styrene-acrylonitrile (SAN) products, as well as polycarbonate (PC). The Feedstocks segment includes its production and procurement of styrene monomer outside of North America. The Americas Styrenics segment consists of the operations of its joint venture, Americas Styrenics LLC.

FINANCIAL RATIOS  of  Trinseo (TSE)

Valuation Ratios
P/E Ratio 6.9
Price to Sales 0.6
Price to Book 4.9
Price to Tangible Book
Price to Cash Flow 5.4
Price to Free Cash Flow 7.8
Growth Rates
Sales Growth Rate -6.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 13.8%
Cap. Spend. - 3 Yr. Gr. Rate 10.9%
Financial Strength
Quick Ratio 93
Current Ratio 0
LT Debt to Equity 260.7%
Total Debt to Equity 261.8%
Interest Coverage 7
Management Effectiveness
Return On Assets 15.9%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 20%
Ret/ On T. Cap. - 3 Yr. Avg. 8.2%
Return On Equity 76.3%
Return On Equity - 3 Yr. Avg. 31.3%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 15.8%
Gross Margin - 3 Yr. Avg. 11.1%
EBITDA Margin 15.3%
EBITDA Margin - 3 Yr. Avg. 9.8%
Operating Margin 13.2%
Oper. Margin - 3 Yr. Avg. 7.7%
Pre-Tax Margin 10.9%
Pre-Tax Margin - 3 Yr. Avg. 5%
Net Profit Margin 8.6%
Net Profit Margin - 3 Yr. Avg. 3.5%
Effective Tax Rate 21.5%
Eff/ Tax Rate - 3 Yr. Avg. 5.4%
Payout Ratio 8.5%

TSE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TSE stock intrinsic value calculation we used $4448.1 million for the last fiscal year's total revenue generated by Trinseo. The default revenue input number comes from 0001 income statement of Trinseo. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TSE stock valuation model: a) initial revenue growth rate of 8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.9%, whose default value for TSE is calculated based on our internal credit rating of Trinseo, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Trinseo.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TSE stock the variable cost ratio is equal to 90.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $4 million in the base year in the intrinsic value calculation for TSE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Trinseo.

Corporate tax rate of 27% is the nominal tax rate for Trinseo. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TSE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TSE are equal to 15.6%.

Life of production assets of 7.4 years is the average useful life of capital assets used in Trinseo operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TSE is equal to 13.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $674.8 million for Trinseo - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.6 million for Trinseo is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Trinseo at the current share price and the inputted number of shares is $2.1 billion.

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COMPANY NEWS

▶ Trinseo: 3Q Earnings Snapshot   [06:49PM  Associated Press]
▶ Can Trinseo SA (NYSE:TSE) Maintain Its Strong Returns?   [Nov-01-18 02:29PM  Simply Wall St.]
▶ New Strong Sell Stocks for October 25th   [Oct-25-18 07:56AM  Zacks]
▶ Jim Cramer: Last Night Trinseo Blew Up...Trinseo?   [Oct-10-18 07:01PM  TheStreet.com]
▶ US Markets Ahead of Worst Monthly Decline   [01:07PM  GuruFocus.com]
▶ Why Shares of Trinseo Plunged 18% Today   [12:38PM  Motley Fool]
▶ Trinseo (TSE): Moving Average Crossover Alert   [Oct-05-18 08:43AM  Zacks]
▶ Trinseo Announces Quarterly Dividend   [Sep-27-18 02:23PM  Business Wire]
▶ Trinseo SA (NYSE:TSE): Time For A Financial Health Check   [Sep-10-18 11:59AM  Simply Wall St.]
▶ Top Ranked Value Stocks to Buy for August 27th   [Aug-27-18 09:35AM  Zacks]
▶ New Strong Buy Stocks for August 16th   [Aug-16-18 10:07AM  Zacks]
▶ [$$] Podcast: The Great God of Depression a poetic sensibility   [Aug-12-18 12:00AM  Financial Times]
▶ Trinseo SA to Host Earnings Call   [Aug-03-18 08:00AM  ACCESSWIRE]
▶ Trinseo: 2Q Earnings Snapshot   [05:08AM  Associated Press]
▶ Moving Average Crossover Alert: Trinseo (TSE)   [Jul-13-18 07:27AM  Zacks]
▶ Trinseo Announces Increase to Quarterly Dividend   [Jun-21-18 08:21AM  Business Wire]
▶ Trinseo: 1Q Earnings Snapshot   [May-02-18 06:56PM  Associated Press]
▶ New Strong Buy Stocks for March 9th   [Mar-09-18 09:10AM  Zacks]
▶ Trinseo Announces Quarterly Dividend   [Feb-22-18 12:40PM  Business Wire]
▶ Trinseo SA to Host Earnings Call   [07:15AM  ACCESSWIRE]
▶ Trinseo posts 4Q profit   [05:01AM  Associated Press]
▶ Trinseo Earnings Preview   [11:18AM  Benzinga]
▶ Should You Buy Trinseo (TSE) Ahead of Earnings?   [Feb-16-18 08:58AM  Zacks]
▶ Stocks Showing Improved Relative Strength: Trinseo   [Jan-10-18 03:00AM  Investor's Business Daily]
▶ Trinseo Shows Improved Relative Price Performance; Still Shy Of Benchmark   [Jan-08-18 03:00AM  Investor's Business Daily]
▶ Trinseo to Share Plastics Expertise at CES 2018   [Dec-18-17 02:47PM  Business Wire]
▶ Trinseo Announces Quarterly Dividend   [Nov-29-17 01:06PM  Business Wire]

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