Seaport Res Ptn Weighs in on Avient Co.’s Q2 2024 Earnings (NYSE:AVNT)

Avient Co. (NYSE:AVNT) – Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Avient in a research report issued to clients and investors on Wednesday, June 26th. Seaport Res Ptn analyst M. Harrison now expects that the company will post earnings of $0.72 per share for the quarter, up from their previous forecast of $0.71. The consensus estimate for Avient’s current full-year earnings is $2.60 per share. Seaport Res Ptn also issued estimates for Avient’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.65 EPS and Q4 2025 earnings at $0.66 EPS.

Avient (NYSE:AVNT) last posted its earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. Avient had a net margin of 3.37% and a return on equity of 9.79%. Avient’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus upped their target price on shares of Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Oppenheimer upped their target price on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.20.

Avient Price Performance

Avient stock opened at $43.16 on Thursday. The company’s 50 day simple moving average is $44.19 and its 200-day simple moving average is $41.25. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Avient has a 1 year low of $27.73 and a 1 year high of $47.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90.

Institutional Trading of Avient

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Avient during the 1st quarter worth $35,000. Fifth Third Bancorp boosted its stake in Avient by 42.8% during the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares during the period. Lazard Asset Management LLC acquired a new stake in Avient during the 1st quarter worth $133,000. NBC Securities Inc. boosted its stake in Avient by 11.2% during the 1st quarter. NBC Securities Inc. now owns 4,010 shares of the company’s stock worth $174,000 after purchasing an additional 405 shares during the period. Finally, TFO Wealth Partners LLC raised its position in Avient by 50,811.1% during the 4th quarter. TFO Wealth Partners LLC now owns 4,582 shares of the company’s stock worth $190,000 after buying an additional 4,573 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be issued a $0.257 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, June 21st. Avient’s payout ratio is 89.57%.

Avient Company Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.