Avient (AVNT) to Release Earnings on Tuesday

Avient (NYSE:AVNT) will be releasing its earnings data before the market opens on Tuesday, August 6th. Analysts expect Avient to post earnings of $0.72 per share for the quarter. Avient has set its Q2 guidance at $0.71 EPS and its FY24 guidance at $2.50-2.65 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Avient had a return on equity of 9.79% and a net margin of 3.37%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $818.45 million. During the same quarter in the prior year, the business earned $0.63 EPS. Avient’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect Avient to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Avient Price Performance

Shares of NYSE AVNT opened at $42.83 on Monday. The stock’s 50-day moving average is $43.99 and its two-hundred day moving average is $42.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.90 and a quick ratio of 1.42. Avient has a 1-year low of $27.73 and a 1-year high of $47.87. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47.

Avient Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.2575 per share. This is an increase from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.03 annualized dividend and a yield of 2.40%. Avient’s dividend payout ratio is 89.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVNT. Wells Fargo & Company increased their price objective on Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Oppenheimer increased their price objective on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus increased their price objective on Avient from $49.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.

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.