Avient (NYSE:AVNT) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.500-$3.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.470. The company issued revenue guidance of $5.10 billion-$5.10 billion, compared to the consensus revenue estimate of $5.04 billion.
NYSE AVNT traded down $0.31 during trading hours on Tuesday, hitting $52.24. 814 shares of the company were exchanged, compared to its average volume of 426,512. The company has a 50 day moving average of $53.33 and a two-hundred day moving average of $52.41. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 1.03. Avient has a 52-week low of $42.57 and a 52-week high of $61.46. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.04 and a beta of 1.63.
Avient (NYSE:AVNT) last issued its quarterly earnings results on Tuesday, February 8th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Avient had a return on equity of 15.85% and a net margin of 4.79%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.52 EPS. Avient’s revenue was up 20.5% on a year-over-year basis. On average, equities research analysts predict that Avient will post 3.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 7th. Shareholders of record on Tuesday, March 15th will be issued a dividend of $0.237 per share. The ex-dividend date of this dividend is Monday, March 14th. This represents a $0.95 annualized dividend and a yield of 1.81%. Avient’s dividend payout ratio (DPR) is 38.15%.
A number of research firms have recently commented on AVNT. Citigroup increased their price objective on Avient from $63.00 to $68.00 in a report on Tuesday, January 11th. Morgan Stanley increased their price objective on Avient from $57.00 to $63.00 and gave the company an equal weight rating in a report on Tuesday, January 11th. Wells Fargo & Company increased their price objective on Avient from $62.00 to $65.00 and gave the company an overweight rating in a report on Friday, December 10th. Finally, Zacks Investment Research upgraded Avient from a sell rating to a hold rating in a report on Thursday, February 3rd.
Institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its position in Avient by 2.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 239,976 shares of the company’s stock worth $13,427,000 after acquiring an additional 5,319 shares during the period. Legal & General Group Plc lifted its position in Avient by 4.6% during the 4th quarter. Legal & General Group Plc now owns 139,479 shares of the company’s stock worth $7,804,000 after acquiring an additional 6,131 shares during the period. California State Teachers Retirement System lifted its position in Avient by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 126,989 shares of the company’s stock worth $7,105,000 after acquiring an additional 3,046 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Avient by 93.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 111,604 shares of the company’s stock worth $6,244,000 after acquiring an additional 54,013 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Avient by 0.9% in the 4th quarter. Deutsche Bank AG now owns 72,063 shares of the company’s stock valued at $4,031,000 after buying an additional 648 shares during the period. 94.51% of the stock is owned by institutional investors.
About Avient
Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers, and silicone colorants.
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