FY2024 EPS Estimates for Avient Decreased by Seaport Res Ptn

Avient Co. (NYSE:AVNT) – Equities research analysts at Seaport Res Ptn lowered their FY2024 EPS estimates for shares of Avient in a report issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the company will post earnings per share of $2.65 for the year, down from their prior forecast of $2.66. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Avient’s current full-year earnings is $2.65 per share. Seaport Res Ptn also issued estimates for Avient’s Q4 2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.84 EPS.

Other equities analysts have also issued research reports about the stock. Oppenheimer boosted their price objective on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price target on Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One investment 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.com, Avient presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Avient Trading Down 0.8 %

Shares of AVNT stock opened at $42.64 on Friday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.06 and a beta of 1.52. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $45.00 and a 200 day moving average price of $46.53. Avient has a twelve month low of $35.58 and a twelve month high of $54.68.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. During the same quarter last year, the business posted $0.57 earnings per share. Avient’s revenue was up 8.2% compared to the same quarter last year.

Insider Buying and Selling

In other news, SVP Joel R. Rathbun sold 5,762 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Avient by 836.9% in the 2nd quarter. Millennium Management LLC now owns 480,227 shares of the company’s stock valued at $20,962,000 after acquiring an additional 428,971 shares during the period. Assenagon Asset Management S.A. raised its position in Avient by 120.6% in the third quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock valued at $39,460,000 after purchasing an additional 428,624 shares during the period. Jennison Associates LLC lifted its stake in shares of Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock worth $74,581,000 after purchasing an additional 128,718 shares in the last quarter. State Street Corp boosted its position in shares of Avient by 3.0% in the third quarter. State Street Corp now owns 4,231,720 shares of the company’s stock worth $213,977,000 after buying an additional 121,349 shares during the period. Finally, Barclays PLC boosted its position in shares of Avient by 221.7% in the third quarter. Barclays PLC now owns 173,002 shares of the company’s stock worth $8,706,000 after buying an additional 119,229 shares during the period. Hedge funds and other 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.