Avient (NYSE:AVNT) Releases Q4 2024 Earnings Guidance

Avient (NYSE:AVNT) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.460-0.500 for the period, compared to the consensus earnings per share estimate of 0.490. The company issued revenue guidance of -. Avient also updated its FY 2024 guidance to 2.630-2.670 EPS.

Avient Stock Performance

Avient stock traded down $0.47 during mid-day trading on Friday, reaching $46.14. 683,143 shares of the company were exchanged, compared to its average volume of 455,920. The firm’s 50-day simple moving average is $48.33 and its two-hundred day simple moving average is $45.71. Avient has a twelve month low of $27.73 and a twelve month high of $51.51. The firm has a market cap of $4.21 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.73 and a current ratio of 1.63.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Equities analysts predict that Avient will post 2.64 earnings per share for the current fiscal year.

Avient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.34%. This is an increase from Avient’s previous quarterly dividend of $0.26. Avient’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

AVNT has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on Avient from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded Avient from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $52.00 in a research report on Wednesday, August 7th. Oppenheimer boosted their target price on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.50.

About Avient

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.