Avient Co. (NYSE:AVNT) Expected to Post Quarterly Sales of $1.29 Billion

Analysts expect Avient Co. (NYSE:AVNTGet Rating) to post $1.29 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avient’s earnings. The highest sales estimate is $1.30 billion and the lowest is $1.27 billion. Avient posted sales of $1.24 billion during the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Avient will report full-year sales of $5.14 billion for the current year, with estimates ranging from $5.08 billion to $5.19 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.38 billion, with estimates ranging from $5.15 billion to $5.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Avient.

Avient (NYSE:AVNTGet Rating) last issued its earnings results on Wednesday, April 20th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Avient had a net margin of 4.76% and a return on equity of 16.15%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion.

AVNT has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Avient from $60.00 to $65.00 in a report on Thursday, April 21st. Zacks Investment Research upgraded shares of Avient from a “sell” rating to a “hold” rating in a research report on Thursday, February 3rd.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd bought a new stake in Avient during the 4th quarter valued at $30,000. Clearstead Advisors LLC purchased a new stake in Avient during the third quarter valued at about $31,000. UMB Bank N A MO purchased a new stake in shares of Avient in the fourth quarter worth about $36,000. First Horizon Advisors Inc. lifted its holdings in shares of Avient by 502.6% in the fourth quarter. First Horizon Advisors Inc. now owns 1,398 shares of the company’s stock worth $78,000 after buying an additional 1,166 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of Avient in the fourth quarter worth approximately $95,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Avient stock opened at $46.93 on Friday. The firm has a fifty day moving average price of $48.91 and a two-hundred day moving average price of $52.59. Avient has a fifty-two week low of $43.69 and a fifty-two week high of $61.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.24 and a quick ratio of 0.93. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 0.89 and a beta of 1.46.

The business also recently declared 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. This represents a $0.95 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, March 14th. Avient’s dividend payout ratio (DPR) is presently 37.40%.

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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