Avient Co. (NYSE:AVNT) Expected to Announce Quarterly Sales of $1.26 Billion

Analysts expect Avient Co. (NYSE:AVNTGet Rating) to report sales of $1.26 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Avient’s earnings, with the highest sales estimate coming in at $1.28 billion and the lowest estimate coming in at $1.25 billion. Avient posted sales of $1.16 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Avient will report full year sales of $5.10 billion for the current fiscal year, with estimates ranging from $5.08 billion to $5.12 billion. For the next year, analysts expect that the firm will report sales of $5.30 billion, with estimates ranging from $5.15 billion to $5.46 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Avient.

Avient (NYSE:AVNTGet Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. Avient had a return on equity of 15.85% and a net margin of 4.79%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Avient from a “sell” rating to a “hold” rating in a research report on Thursday, February 3rd. Morgan Stanley lifted their price target on Avient from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 11th. Finally, Citigroup lifted their price target on Avient from $63.00 to $68.00 in a research report on Tuesday, January 11th.

Shares of AVNT traded down $0.56 during trading hours on Friday, reaching $45.34. 318,586 shares of the company’s stock traded hands, compared to its average volume of 502,514. The stock has a market cap of $4.16 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.86 and a beta of 1.59. The company has a current ratio of 1.94, a quick ratio of 1.45 and a debt-to-equity ratio of 1.03. The firm’s 50 day simple moving average is $50.30 and its 200-day simple moving average is $52.62. Avient has a 12 month low of $43.69 and a 12 month high of $61.46.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Tuesday, March 15th were issued a dividend of $0.237 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.09%. Avient’s dividend payout ratio is 38.15%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Red Spruce Capital LLC raised its holdings in shares of Avient by 10.5% during the 1st quarter. Red Spruce Capital LLC now owns 20,884 shares of the company’s stock valued at $1,002,000 after buying an additional 1,992 shares in the last quarter. Marquard & Bahls AG purchased a new position in shares of Avient during the 4th quarter valued at about $182,885,000. Sheets Smith Investment Management purchased a new position in shares of Avient during the 4th quarter valued at about $1,385,000. Norges Bank purchased a new position in shares of Avient during the 4th quarter valued at about $40,952,000. Finally, NewEdge Advisors LLC purchased a new position in Avient in the 4th quarter worth approximately $1,121,000. 94.51% of the stock is currently owned by institutional investors.

Avient Company Profile (Get Rating)

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.

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