Avient (NYSE:AVNT) Issues Q4 2024 Earnings Guidance

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

Avient Stock Down 1.0 %

Shares of AVNT stock traded down $0.47 during trading on Friday, reaching $46.14. The company’s stock had a trading volume of 683,143 shares, compared to its average volume of 455,920. Avient has a 1-year low of $27.73 and a 1-year high of $51.51. The stock’s 50-day moving average price is $48.33 and its 200 day moving average price is $45.71. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 0.73.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, research analysts anticipate that Avient will post 2.64 EPS for the current year.

Avient Increases Dividend

The business 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 dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This is an increase from Avient’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.34%. Avient’s payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVNT shares. Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a “hold” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th. Oppenheimer lifted 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. Seaport Res Ptn lowered Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price target on Avient from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.