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

Avient Co. (NYSE:AVNT) – Stock analysts at Seaport Res Ptn lifted their Q2 2024 earnings estimates for Avient in a research report issued on Wednesday, June 26th. Seaport Res Ptn analyst M. Harrison now forecasts that the company will post earnings per share of $0.72 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.

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

Avient Price Performance

Shares of NYSE AVNT opened at $43.16 on Thursday. Avient has a fifty-two week low of $27.73 and a fifty-two week high of $47.87. The company has a 50 day simple moving average of $44.19 and a two-hundred day simple moving average of $41.25. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 1.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90.

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

Avient Dividend Announcement

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

Institutional Investors Weigh In On Avient

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Avient during the 1st quarter valued at $35,000. Fifth Third Bancorp grew its position in shares of Avient by 42.8% during the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after acquiring an additional 300 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Avient during the 1st quarter valued at $133,000. NBC Securities Inc. boosted its holdings in Avient by 11.2% in the 1st quarter. NBC Securities Inc. now owns 4,010 shares of the company’s stock worth $174,000 after buying an additional 405 shares during the period. Finally, TFO Wealth Partners LLC boosted its holdings in Avient by 50,811.1% in 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 period. Institutional investors own 95.48% of the company’s stock.

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.