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 (EPS) guidance of 0.460-0.500 for the period, compared to the consensus 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

NYSE AVNT traded down $0.47 during trading hours on Friday, reaching $46.14. The company’s stock had a trading volume of 683,143 shares, compared to its average volume of 455,920. The company has a current ratio of 1.63, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $48.33 and a 200 day simple moving average of $45.71. Avient has a 52 week low of $27.73 and a 52 week high of $51.51. The stock has a market cap of $4.21 billion, a PE ratio of 28.48, a PEG ratio of 1.16 and a beta of 1.48.

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

Avient Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Seaport Res Ptn lowered Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target 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 shares of Avient from a “hold” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $52.00 in a research note on Wednesday, August 7th. Finally, Oppenheimer increased their target price on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.