Avient (NYSE:AVNT) Releases Earnings Results, Beats Expectations By $0.02 EPS

by · The Markets Daily

Avient (NYSE:AVNT – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02, Briefing.com reports. Avient had a net margin of 3.70% and a return on equity of 10.34%. The business had revenue of $815.20 million for the quarter, compared to analyst estimates of $797.50 million. Avient’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS.

Avient Stock Down 1.0 %

Shares of AVNT traded down $0.47 during mid-day trading on Friday, hitting $46.14. 620,557 shares of the company’s stock were exchanged, compared to its average volume of 459,076. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.73. Avient has a 52 week low of $27.73 and a 52 week high of $51.51. The company has a market cap of $4.21 billion, a PE ratio of 36.04, a P/E/G ratio of 1.21 and a beta of 1.47. The company has a 50-day simple moving average of $48.38 and a 200 day simple moving average of $45.65.

Avient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be paid a $0.27 dividend. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 2.34%. Avient’s payout ratio is presently 81.10%.

Wall Street Analysts Forecast Growth

AVNT has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded Avient from a “hold” rating to a “buy” rating and increased their price target for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. Oppenheimer boosted their price objective on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn lowered shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.50.

Read Our Latest Stock Report on AVNT

Avient Company Profile

(Get Free Report)

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.

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