Avient (NYSE:AVNT) Issues Q2 2024 Earnings Guidance

Avient (NYSE:AVNT) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.710-0.710 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of -. Avient also updated its FY 2024 guidance to 2.500-2.650 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer upped their price target on Avient from $45.00 to $49.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their price target on Avient from $45.00 to $50.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus upped their price target on Avient from $49.00 to $53.00 and gave the company a buy rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $45.80.

Avient Stock Down 1.5 %

Shares of AVNT traded down $0.68 on Wednesday, hitting $45.64. The company’s stock had a trading volume of 58,053 shares, compared to its average volume of 461,135. 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 firm’s fifty day moving average price is $42.16 and its 200-day moving average price is $38.53. Avient has a fifty-two week low of $27.73 and a fifty-two week high of $47.87. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 0.91 and a beta of 1.53.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Avient had a return on equity of 9.26% and a net margin of 2.41%. The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $818.45 million. During the same period in the previous year, the firm earned $0.63 EPS. Avient’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Avient will post 2.55 EPS for the current year.

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, March 19th were given a $0.257 dividend. The ex-dividend date was Monday, March 18th. This represents a $1.03 annualized dividend and a dividend yield of 2.25%. Avient’s dividend payout ratio is presently 124.10%.

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.