Seaport Res Ptn Has Weak Forecast for Avient FY2024 Earnings

Avient Co. (NYSE:AVNT - Free Report) - Stock analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Avient in a research report issued to clients and investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the company will post earnings per share of $2.65 for the year, down from their prior forecast of $2.66. Seaport Res Ptn has a "Hold" rating on the stock. The consensus estimate for Avient's current full-year earnings is $2.65 per share. Seaport Res Ptn also issued estimates for Avient's Q4 2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.84 EPS.

Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $815.20 million during the quarter, compared to analyst estimates of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their price objective on Avient from $55.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Oppenheimer lifted their price target on Avient from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.50.

Avient Trading Down 0.8 %

AVNT stock traded down $0.32 during midday trading on Friday, hitting $42.64. 441,948 shares of the company's stock were exchanged, compared to its average volume of 507,230. Avient has a one year low of $35.58 and a one year high of $54.68. The stock's fifty day moving average price is $45.00 and its 200-day moving average price is $46.53. The company has a market cap of $3.90 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVNT. UMB Bank n.a. increased its stake in Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company's stock valued at $33,000 after buying an additional 298 shares during the last quarter. Signaturefd LLC lifted its holdings in Avient by 58.7% in the third quarter. Signaturefd LLC now owns 865 shares of the company's stock worth $44,000 after buying an additional 320 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Avient by 44.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock worth $50,000 after acquiring an additional 310 shares in the last quarter. GAMMA Investing LLC lifted its stake in Avient by 35.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,098 shares of the company's stock valued at $55,000 after acquiring an additional 287 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Avient in the third quarter worth approximately $60,000. Institutional investors own 95.48% of the company's stock.

Insider Activity at Avient

In other news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.88% of the stock is currently owned by company insiders.

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.