Avient (AVNT) to Announce Earnings on Tuesday

Avient (NYSE:AVNT) is set to release its earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.69 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $719.00 million during the quarter, compared to analyst estimates of $711.87 million. Avient had a return on equity of 9.26% and a net margin of 2.41%. Avient’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, analysts expect Avient to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Avient Price Performance

Shares of Avient stock opened at $44.16 on Monday. Avient has a 12-month low of $27.73 and a 12-month high of $44.93. The firm has a market cap of $4.03 billion, a PE ratio of 53.20, 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 company’s fifty day simple moving average is $41.94 and its two-hundred day simple moving average is $38.30.

Avient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 19th were paid a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, March 18th. Avient’s payout ratio is presently 124.10%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVNT. Wells Fargo & Company increased their price target on shares of Avient from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Oppenheimer upped their price objective on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th.

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.