Avient (NYSE:AVNT) Releases Q2 2024 Earnings Guidance

Avient (NYSE:AVNT) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.710-0.710 for the period, compared to the consensus 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 equities analysts have recently weighed in on AVNT shares. Wells Fargo & Company upped their price target on shares of Avient from $45.00 to $50.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Avient from $49.00 to $53.00 and gave the company a buy rating in a research note on Wednesday. Finally, Oppenheimer increased 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $45.80.

Avient Trading Down 1.5 %

NYSE:AVNT traded down $0.68 during mid-day trading on Wednesday, hitting $45.64. 58,053 shares of the company’s stock were exchanged, compared to its average volume of 461,135. The company has a 50 day simple moving average of $42.16 and a 200-day simple moving average of $38.53. The company has a current ratio of 1.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. 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 P/E ratio of 55.54, a PEG ratio of 0.91 and a beta of 1.53.

Avient (NYSE:AVNT) last announced its earnings results on Tuesday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Avient had a net margin of 2.41% and a return on equity of 9.26%. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $818.45 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts expect that Avient will post 2.55 earnings per share for the current year.

Avient Dividend Announcement

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

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.