Avient (NYSE:AVNT) Updates FY22 Earnings Guidance

Avient (NYSE:AVNTGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.50 for the period, compared to the Thomson Reuters consensus estimate of $3.50. Avient also updated its FY 2022 guidance to $3.500-$3.500 EPS.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Avient from $57.00 to $63.00 and gave the company an equal weight rating in a research note on Tuesday, January 11th. Wells Fargo & Company dropped their price objective on Avient from $65.00 to $60.00 and set an overweight rating for the company in a research note on Monday. Zacks Investment Research raised Avient from a sell rating to a hold rating in a research note on Thursday, February 3rd. Finally, Citigroup boosted their target price on Avient from $63.00 to $68.00 in a research note on Tuesday, January 11th.

AVNT opened at $47.88 on Wednesday. The business has a fifty day moving average price of $49.80 and a 200 day moving average price of $52.63. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 0.88 and a beta of 1.59. Avient has a 12 month low of $43.69 and a 12 month high of $61.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.94 and a quick ratio of 1.45.

Avient (NYSE:AVNTGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Avient had a return on equity of 15.85% and a net margin of 4.79%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Avient will post 3.53 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.237 per share. The ex-dividend date was Monday, March 14th. This represents a $0.95 annualized dividend and a dividend yield of 1.98%. Avient’s dividend payout ratio is currently 38.15%.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its stake in Avient by 2.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 239,976 shares of the company’s stock valued at $13,427,000 after acquiring an additional 5,319 shares during the last quarter. Legal & General Group Plc raised its stake in Avient by 4.6% during the 4th quarter. Legal & General Group Plc now owns 139,479 shares of the company’s stock valued at $7,804,000 after acquiring an additional 6,131 shares during the last quarter. California State Teachers Retirement System raised its stake in Avient by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 126,989 shares of the company’s stock valued at $7,105,000 after acquiring an additional 3,046 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Avient by 93.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 111,604 shares of the company’s stock valued at $6,244,000 after acquiring an additional 54,013 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Avient by 0.9% during the 4th quarter. Deutsche Bank AG now owns 72,063 shares of the company’s stock worth $4,031,000 after buying an additional 648 shares in the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Avient (NYSE:AVNT)

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