Avient (NYSE:AVNT - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the consensus estimate of $2.54. Avient also updated its Q2 guidance to $0.71 EPS.
Analyst Ratings Changes
AVNT has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on Avient from $45.00 to $49.00 and gave the stock an outperform rating in a report on Thursday, April 18th. 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.
Read Our Latest Analysis on Avient
Avient Price Performance
Avient stock traded up $1.88 during trading hours on Tuesday, hitting $46.33. The stock had a trading volume of 874,659 shares, compared to its average volume of 465,761. Avient has a 1-year low of $27.73 and a 1-year high of $47.87. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 55.87, a PEG ratio of 0.91 and a beta of 1.53. The stock's fifty day moving average is $42.04 and its two-hundred day moving average is $38.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.82 and a quick ratio of 1.37.
Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $719.00 million for the quarter, compared to analysts' expectations of $711.87 million. Avient had a net margin of 2.41% and a return on equity of 9.26%. The firm's revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. As a group, analysts predict that Avient will post 2.55 earnings per share for the current fiscal year.
Avient Dividend Announcement
The business 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 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, March 18th. Avient's payout ratio is currently 124.10%.
About Avient
(
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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.
Further Reading
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