Q3 2022 EPS Estimates for Avient Co. (NYSE:AVNT) Decreased by Analyst

Avient Co. (NYSE:AVNTGet Rating) – Seaport Res Ptn reduced their Q3 2022 EPS estimates for shares of Avient in a research note issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now expects that the company will earn $0.51 per share for the quarter, down from their prior estimate of $0.80. The consensus estimate for Avient’s current full-year earnings is $3.19 per share. Seaport Res Ptn also issued estimates for Avient’s Q4 2022 earnings at $0.45 EPS, FY2022 earnings at $2.92 EPS and FY2023 earnings at $2.71 EPS.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Avient from $76.00 to $70.00 in a report on Wednesday, July 27th. Jefferies Financial Group dropped their price objective on Avient from $67.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, June 28th. Finally, Wells Fargo & Company decreased their target price on Avient from $65.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th.

Avient Price Performance

Shares of NYSE AVNT opened at $36.78 on Monday. Avient has a twelve month low of $35.67 and a twelve month high of $61.46. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.73 and a beta of 1.44. The firm has a 50-day moving average of $43.29 and a two-hundred day moving average of $45.81.

Avient (NYSE:AVNTGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Avient had a net margin of 5.01% and a return on equity of 16.57%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $0.87 EPS. Avient’s revenue was up 5.4% on a year-over-year basis.

Avient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be given a dividend of $0.237 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.95 dividend on an annualized basis and a yield of 2.58%. Avient’s payout ratio is currently 34.93%.

Institutional Investors Weigh In On Avient

A number of large investors have recently added to or reduced their stakes in AVNT. American Century Companies Inc. boosted its position in shares of Avient by 2.2% in the first quarter. American Century Companies Inc. now owns 10,341 shares of the company’s stock valued at $496,000 after acquiring an additional 221 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Avient by 2.8% in the first quarter. Crossmark Global Holdings Inc. now owns 8,410 shares of the company’s stock valued at $404,000 after acquiring an additional 230 shares during the period. Shaker Investments LLC OH boosted its position in shares of Avient by 0.6% in the first quarter. Shaker Investments LLC OH now owns 42,135 shares of the company’s stock valued at $2,022,000 after acquiring an additional 251 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Avient by 2.3% in the second quarter. State of Alaska Department of Revenue now owns 13,135 shares of the company’s stock valued at $526,000 after acquiring an additional 290 shares during the period. Finally, Sheets Smith Investment Management boosted its position in shares of Avient by 1.2% in the first quarter. Sheets Smith Investment Management now owns 25,042 shares of the company’s stock valued at $1,202,000 after acquiring an additional 293 shares during the period. Institutional investors own 95.49% of the company’s stock.

Avient Company Profile

(Get Rating)

Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.

Further Reading

Earnings History and Estimates for Avient (NYSE:AVNT)

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