Avient (NYSE:AVNT) Issues Q2 2022 Earnings Guidance

Avient (NYSE:AVNTGet Rating) updated its second quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.920-$0.920 for the period, compared to the Thomson Reuters consensus estimate of $0.980. The company issued revenue guidance of -.Avient also updated its FY 2022 guidance to $3.500-$3.500 EPS.

AVNT has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Avient from $65.00 to $60.00 and set an overweight rating on the stock in a research report on Monday. Citigroup boosted their target price on Avient from $63.00 to $68.00 in a research note on Tuesday, January 11th. Zacks Investment Research upgraded Avient from a sell rating to a hold rating in a research report on Thursday, February 3rd. Finally, Morgan Stanley boosted their price objective on Avient from $57.00 to $63.00 and gave the company an equal weight rating in a research report on Tuesday, January 11th.

NYSE:AVNT opened at $47.88 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $49.80 and its 200 day simple moving average is $52.63. The stock has a market cap of $4.39 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 0.88 and a beta of 1.59. Avient has a twelve month low of $43.69 and a twelve month high of $61.46.

Avient (NYSE:AVNTGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Avient had a net margin of 4.79% and a return on equity of 15.85%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, analysts expect that Avient will post 3.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Tuesday, March 15th were paid a $0.237 dividend. 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 1.98%. Avient’s dividend payout ratio is currently 38.15%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Avient in the 4th quarter worth about $397,000. Squarepoint Ops LLC bought a new position in shares of Avient in the fourth quarter worth approximately $838,000. NewEdge Advisors LLC purchased a new position in Avient in the 4th quarter worth approximately $1,121,000. Thrivent Financial for Lutherans lifted its position in Avient by 1.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 24,124 shares of the company’s stock valued at $1,350,000 after acquiring an additional 260 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Avient by 2.0% in the 4th quarter. Stifel Financial Corp now owns 36,849 shares of the company’s stock worth $2,061,000 after purchasing an additional 720 shares in the last quarter. 94.51% of the stock is owned by hedge funds and other 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.

See Also

Earnings History and Estimates for Avient (NYSE:AVNT)

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