FY2024 EPS Estimates for Avient Co. (NYSE:AVNT) Lifted by Analyst

Avient Co. (NYSE:AVNT) – Analysts at Seaport Res Ptn increased their FY2024 EPS estimates for Avient in a research report issued to clients and investors on Tuesday, August 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the company will post earnings per share of $2.68 for the year, up from their prior estimate of $2.65. The consensus estimate for Avient’s current full-year earnings is $2.61 per share. Seaport Res Ptn also issued estimates for Avient’s Q1 2025 earnings at $0.85 EPS and FY2025 earnings at $3.13 EPS.

A number of other brokerages have also recently issued reports on AVNT. Stifel Nicolaus raised their price objective on shares of Avient from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Oppenheimer lifted their price target on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Wells Fargo & Company lifted their price target on shares of Avient from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $52.00 in a research report on Wednesday.

Avient Trading Down 0.6 %

AVNT stock traded down $0.26 during midday trading on Thursday, reaching $44.72. The company’s stock had a trading volume of 442,315 shares, compared to its average volume of 465,511. Avient has a 52 week low of $27.73 and a 52 week high of $47.87. The stock has a market cap of $4.08 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company has a quick ratio of 1.42, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The business’s 50-day simple moving average is $43.92 and its 200-day simple moving average is $42.33.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. Avient had a net margin of 3.37% and a return on equity of 9.79%. The firm had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis.

Avient Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 13th will be given a $0.2575 dividend. This is a boost from Avient’s previous quarterly dividend of $0.26. This represents a $1.03 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, September 13th. Avient’s payout ratio is currently 89.57%.

Institutional Investors Weigh In On Avient

Several institutional investors have recently added to or reduced their stakes in AVNT. Headlands Technologies LLC acquired a new stake in Avient in the 1st quarter valued at $35,000. GAMMA Investing LLC increased its stake in Avient by 88.6% in the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after buying an additional 381 shares during the last quarter. Fifth Third Bancorp increased its stake in Avient by 42.8% in the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after buying an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Avient in the 2nd quarter valued at $59,000. Finally, Innealta Capital LLC acquired a new stake in Avient in the 2nd quarter valued at $119,000. 95.48% of the stock is owned by institutional investors.

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.