FY2024 EPS Estimates for Avient Co. (NYSE:AVNT) Lifted by Analyst

Avient Co. (NYSE:AVNT) – Equities researchers at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of Avient in a research report issued on Tuesday, August 6th. Seaport Res Ptn analyst M. Harrison now anticipates that the company will earn $2.68 per share for the year, up from their prior forecast of $2.65. The consensus estimate for Avient’s current full-year earnings is $2.61 per share. Seaport Res Ptn also issued estimates for Avient’s Q1 2025 earnings at $0.85 EPS and FY2025 earnings at $3.13 EPS.

AVNT has been the topic of several other reports. Oppenheimer upped their target price on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Wells Fargo & Company upped their target price on Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus upped their target price on Avient from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised Avient from a “hold” rating to a “buy” rating and upped their target price for the company from $49.00 to $52.00 in a research report on Wednesday.

Avient Stock Down 0.6 %

Shares of NYSE AVNT traded down $0.26 during mid-day trading on Thursday, reaching $44.72. 442,315 shares of the company were exchanged, compared to its average volume of 465,511. The company has a quick ratio of 1.42, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 1.24 and a beta of 1.47. Avient has a 1 year low of $27.73 and a 1 year high of $47.87. The firm has a 50-day moving average of $43.92 and a 200 day moving average of $42.33.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $850.00 million during the quarter, compared to analysts’ expectations of $841.40 million. Avient had a return on equity of 9.79% and a net margin of 3.37%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS.

Avient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 13th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Avient’s previous quarterly dividend of $0.26. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.30%. Avient’s dividend payout ratio is currently 89.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Avient in the first quarter worth about $35,000. GAMMA Investing LLC boosted its stake in shares of Avient by 88.6% in the second quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after buying an additional 381 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Avient by 42.8% in the fourth quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after buying an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Avient in the second quarter worth about $59,000. Finally, Innealta Capital LLC purchased a new stake in shares of Avient in the second quarter worth about $119,000. 95.48% of the stock is owned by institutional investors and hedge funds.

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.