Avient (NYSE:AVNT) Releases FY24 Earnings Guidance

Avient (NYSE:AVNT) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the consensus estimate of $2.54. Avient also updated its Q2 guidance to $0.71 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Avient from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Wednesday. Oppenheimer boosted their price target on Avient from $45.00 to $49.00 and gave the company an outperform rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus increased their price objective on Avient from $49.00 to $53.00 and gave the stock a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Avient presently has an average rating of Moderate Buy and an average target price of $46.20.

Avient Price Performance

Shares of AVNT stock traded down $0.32 on Friday, reaching $45.28. The company had a trading volume of 47,624 shares, compared to its average volume of 463,428. The stock has a market capitalization of $4.13 billion, a PE ratio of 54.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.53. The company has a quick ratio of 1.37, a current ratio of 1.82 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average is $42.37 and its 200 day moving average is $38.62. Avient has a one year low of $27.73 and a one year high of $47.87.

Avient (NYSE:AVNT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. Avient had a return on equity of 9.26% and a net margin of 2.41%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Equities research analysts forecast that Avient will post 2.55 EPS for the current fiscal year.

Avient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, March 19th were paid a $0.257 dividend. This represents a $1.03 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, March 18th. Avient’s dividend payout ratio (DPR) is presently 124.10%.

Avient Company Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.