Avient (NYSE:AVNT – Get Free Report) posted its earnings results on Tuesday. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07, Briefing.com reports. Avient had a net margin of 2.41% and a return on equity of 9.26%. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Avient updated its Q2 guidance to $0.71 EPS and its FY24 guidance to $2.50-2.65 EPS.
Avient Stock Down 2.6 %
Avient stock opened at $45.12 on Thursday. Avient has a twelve month low of $27.73 and a twelve month high of $47.87. The firm has a 50 day moving average price of $42.27 and a 200-day moving average price of $38.57. The company has a market capitalization of $4.12 billion, a P/E ratio of 54.36, a P/E/G 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.
Avient Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, March 19th were given a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, March 18th. Avient’s payout ratio is 124.10%.
Analysts Set New Price Targets
View Our Latest Stock Report on Avient
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.
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