Avient (AVNT) to Release Earnings on Thursday

Avient (NYSE:AVNT - Get Free Report) is scheduled to announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $850.00 million for the quarter, compared to the consensus estimate of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. 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 traded up $0.19 during midday trading on Thursday, hitting $48.06. The company's stock had a trading volume of 423,488 shares, compared to its average volume of 455,408. The business's 50 day simple moving average is $48.16 and its 200 day simple moving average is $45.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.97. The company has a market cap of $4.39 billion, a P/E ratio of 41.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. Avient has a 12-month low of $27.73 and a 12-month high of $51.51.

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 13th will be paid a $0.27 dividend. This is an increase from Avient's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, December 13th. Avient's dividend payout ratio (DPR) is currently 93.91%.

Analyst Ratings Changes

AVNT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Avient from a "hold" rating to a "buy" rating and raised their price target for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th. Seaport Res Ptn cut shares of Avient from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Oppenheimer raised their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised their price objective on shares of Avient from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

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.