Avient (NYSE:AVNT) Announces Earnings Results

Avient (NYSE:AVNTGet Rating) issued its earnings results on Wednesday. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.04, MarketWatch Earnings reports. Avient had a return on equity of 16.24% and a net margin of 4.76%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. Avient’s revenue was up 11.3% on a year-over-year basis. Avient updated its Q2 2022 guidance to $0.920-$0.920 EPS and its FY 2022 guidance to $3.500-$3.500 EPS.

Shares of NYSE:AVNT traded up $0.02 during mid-day trading on Wednesday, reaching $50.12. 4,418 shares of the company traded hands, compared to its average volume of 448,783. The company’s 50 day moving average price is $49.65 and its 200-day moving average price is $52.80. The firm has a market cap of $4.60 billion, a PE ratio of 19.73, a PEG ratio of 1.01 and a beta of 1.59. 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 has a 52 week low of $43.69 and a 52 week high of $61.46.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Tuesday, March 15th were paid a dividend of $0.237 per share. The ex-dividend date was Monday, March 14th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.89%. Avient’s dividend payout ratio (DPR) is presently 37.40%.

Several research firms have recently commented on AVNT. Zacks Investment Research raised shares of Avient from a “sell” rating to a “hold” rating in a research report on Thursday, February 3rd. Morgan Stanley upped their price target on shares of Avient from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 11th. Wells Fargo & Company upped their price target on shares of Avient from $60.00 to $65.00 in a research report on Thursday, April 21st. Finally, Citigroup upped their price target on shares of Avient from $63.00 to $68.00 in a research report on Tuesday, January 11th.

Several large investors have recently made changes to their positions in AVNT. Virtu Financial LLC bought a new position in Avient in the 4th quarter worth approximately $397,000. Squarepoint Ops LLC bought a new position in Avient in the 4th quarter worth approximately $838,000. NewEdge Advisors LLC bought a new position in Avient in the 4th quarter worth approximately $1,121,000. Thrivent Financial for Lutherans boosted its stake in Avient by 1.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 24,124 shares of the company’s stock worth $1,350,000 after purchasing an additional 260 shares during the period. Finally, Stifel Financial Corp boosted its stake in 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 during the period. Institutional investors own 94.51% of the company’s stock.

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 for Avient (NYSE:AVNT)

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