Avient (AVNT) Set to Announce Quarterly Earnings on Thursday

Avient (NYSE:AVNT) is scheduled to be announcing its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Avient (NYSE:AVNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company had revenue of $850.00 million during the quarter, compared to analyst estimates of $841.40 million. During the same period in the previous year, the business posted $0.63 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts expect Avient to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Avient Stock Up 0.1 %

AVNT opened at $48.96 on Wednesday. Avient has a 1-year low of $27.73 and a 1-year high of $51.51. The firm’s 50 day simple moving average is $48.34 and its two-hundred day simple moving average is $45.63. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.47 billion, a PE ratio of 38.55, a PEG ratio of 1.21 and a beta of 1.47.

Avient Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be issued a $0.27 dividend. This is a boost from Avient’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, December 13th. Avient’s dividend payout ratio (DPR) is currently 81.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVNT shares. Wells Fargo & Company upped their price target on Avient from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th. Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Oppenheimer increased their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Avient has an average rating of “Moderate Buy” and an average target price of $54.50.

About Avient

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.