Avient Co. Forecasted to Post FY2022 Earnings of $3.49 Per Share (NYSE:AVNT)

Avient Co. (NYSE:AVNT – Get Rating) – Equities research analysts at Oppenheimer raised their FY2022 earnings per share (EPS) estimates for Avient in a report issued on Tuesday, July 26th. Oppenheimer analyst K. Owen now forecasts that the company will post earnings per share of $3.49 for the year, up from their previous forecast of $3.48. The consensus estimate for Avient’s current full-year earnings is $3.50 per share. Oppenheimer also issued estimates for Avient’s FY2023 earnings at $3.91 EPS.

Avient (NYSE:AVNT – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. Avient had a return on equity of 16.57% and a net margin of 5.01%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis.

Several other research firms also recently commented on AVNT. Morgan Stanley reiterated a “maintains” rating and issued a $50.00 price objective (down from $63.00) on shares of Avient in a report on Thursday. Robert W. Baird reduced their price objective on Avient from $63.00 to $56.00 and set a “maintains” rating for the company in a report on Wednesday. Jefferies Financial Group reduced their price objective on Avient from $67.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Stifel Nicolaus reduced their price objective on Avient from $76.00 to $70.00 in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Avient from $65.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, July 7th.

Avient Price Performance

Shares of NYSE:AVNT opened at $43.15 on Friday. Avient has a 1-year low of $37.09 and a 1-year high of $61.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.93. The business has a fifty day moving average price of $43.79 and a 200-day moving average price of $47.92. The company has a market capitalization of $3.95 billion, a PE ratio of 15.86, a PEG ratio of 0.79 and a beta of 1.50.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.237 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.20%. Avient’s dividend payout ratio is currently 34.93%.

Institutional Investors Weigh In On Avient

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Avient by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 9,802,120 shares of the company’s stock valued at $470,502,000 after buying an additional 583,179 shares in the last quarter. Marquard & Bahls AG lifted its position in shares of Avient by 26.8% during the 1st quarter. Marquard & Bahls AG now owns 4,144,633 shares of the company’s stock valued at $198,942,000 after buying an additional 875,904 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Avient by 0.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,711,002 shares of the company’s stock valued at $148,736,000 after buying an additional 32,653 shares in the last quarter. State Street Corp lifted its position in shares of Avient by 4.3% during the 1st quarter. State Street Corp now owns 3,478,276 shares of the company’s stock valued at $167,739,000 after buying an additional 142,503 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Avient by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,938,736 shares of the company’s stock valued at $141,060,000 after buying an additional 147,075 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.

Avient Company Profile

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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.