Avient (NYSE:AVNT) Updates FY 2022 Earnings Guidance

Avient (NYSE:AVNT – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $3.50-$3.50 for the period, compared to the consensus earnings per share estimate of $3.47. The company issued revenue guidance of -. Avient also updated its Q3 2022 guidance to $0.80-$0.80 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Avient from $67.00 to $51.00 and set a buy rating for the company in a research report on Tuesday, June 28th. Stifel Nicolaus reduced their price target on shares of Avient from $76.00 to $70.00 in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Avient from $65.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday, July 7th.

Avient Price Performance

Avient stock traded up $0.42 during mid-day trading on Friday, reaching $43.55. The company had a trading volume of 424,808 shares, compared to its average volume of 346,468. Avient has a 1 year low of $37.09 and a 1 year high of $61.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.97. The company has a market capitalization of $3.96 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.82 and a beta of 1.47. The stock’s 50-day simple moving average is $43.19 and its 200-day simple moving average is $47.42.

Avient (NYSE:AVNT – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Avient had a net margin of 5.01% and a return on equity of 16.57%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. On average, equities analysts predict that Avient will post 3.5 EPS for the current year.

Avient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 16th will be given a dividend of $0.237 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.95 dividend on an annualized basis and a yield of 2.18%. Avient’s dividend payout ratio (DPR) is currently 34.93%.

Hedge Funds Weigh In On Avient

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of Avient by 123.1% in the 1st quarter. Covestor Ltd now owns 1,187 shares of the company’s stock valued at $57,000 after acquiring an additional 655 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Avient in the 1st quarter valued at $110,000. Bridgefront Capital LLC purchased a new position in shares of Avient in the 1st quarter valued at $261,000. Keeley Teton Advisors LLC purchased a new position in shares of Avient in the 1st quarter valued at $418,000. Finally, US Bancorp DE raised its stake in shares of Avient by 3.5% in the 1st quarter. US Bancorp DE now owns 8,862 shares of the company’s stock valued at $425,000 after acquiring an additional 297 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

Avient Company Profile

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Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.