Avient (NYSE:AVNT) Releases Q4 2024 Earnings Guidance

Avient (NYSE:AVNT - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.460-0.500 for the period, compared to the consensus EPS estimate of 0.490. The company issued revenue guidance of -. Avient also updated its FY 2024 guidance to 2.630-2.670 EPS.

Avient Price Performance

AVNT traded down $1.91 during midday trading on Thursday, reaching $46.61. 1,051,514 shares of the company's stock were exchanged, compared to its average volume of 458,311. Avient has a 1-year low of $27.73 and a 1-year high of $51.51. The stock has a market capitalization of $4.26 billion, a PE ratio of 37.57, a P/E/G ratio of 1.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.73. The business's 50-day moving average price is $48.38 and its 200 day moving average price is $45.65.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results 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. Avient had a return on equity of 10.34% and a net margin of 3.70%. The company had revenue of $850.00 million during the quarter, compared to analysts' expectations of $841.40 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Avient will post 2.64 EPS for the current fiscal year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 13th will be given a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Avient's previous quarterly dividend of $0.26. Avient's payout ratio is currently 85.04%.

Analysts Set New Price Targets

Several brokerages recently commented on AVNT. Seaport Res Ptn lowered shares of Avient from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded Avient from a "hold" rating to a "buy" rating and upped their price objective for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. Oppenheimer lifted their target price on Avient from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on Avient from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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