Wall Street analysts expect Avient Co. (NYSE:AVNT – Get Rating) to report earnings of $0.95 per share for the current quarter, Zacks reports. Three analysts have made estimates of Avient’s earnings, with the lowest EPS estimate being $0.95 and the highest estimate of $0.96. Avient reported earnings per share of $0.89 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The company is expected to release its next quarterly earnings report on Friday, April 29.
According to Zacks, analysts expect Avient to report annual earnings of $3.54 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.59. For the next fiscal year, analysts expect the company to report earnings of $4.18 per share, with EPS estimates ranging from $4.02 to $4.38. Zacks EPS averages are an average average based on a survey of sell-side research companies that cover Avient.
Avient (NYSE:AVNT – Get Rating) last released its quarterly earnings data on Tuesday, February 8. The company reported earnings per share of $0.58 for the quarter, beating the consensus estimate of $0.55 by $0.03. The company posted revenue of $1.20 billion for the quarter, versus analyst estimates of $1.14 billion. Avient had a return on equity of 15.85% and a net margin of 4.79%. The company’s revenue increased by 20.5% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.52.
Several equity analysts have recently commented on AVNT stock. Wells Fargo & Company raised its price target on Avient from $62.00 to $65.00 and gave the stock an “overweight” rating in a Friday, Dec. 10 research report. Morgan Stanley raised its price target on Avient from $57.00 to $63.00 and gave the stock an “equal weight” rating in a Tuesday, January 11 research report. Zacks Investment Research upgraded Avient from a “sell” to a “hold” rating in a Thursday, February 3, research report. Finally, Citigroup raised its target price on Avient from $63.00 to $68.00 in a Tuesday, January 11 research report.
Avient stock traded down $0.66 midday on Friday, hitting $49.74. 899 shares of the company were traded, against an average volume of 418,450. The company’s fifty-day moving average price is $52.30 and its 200-day moving average price is $52.60. The company has a market capitalization of $4.55 billion, a PE ratio of 20.00, a growth price-earnings ratio of 0.88 and a beta of 1.61. The company has a debt ratio of 1.03, a current ratio of 1.94 and a quick ratio of 1.45. Avient has a fifty-two week low of $43.69 and a fifty-two week high of $61.46.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 7. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.237. This represents a dividend of $0.95 on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, March 14. Avient’s distribution rate is 38.15%.
Several hedge funds and other institutional investors have recently changed their stake in AVNT. Credit Suisse AG increased its stake in Avient shares by 2.4% in the second quarter. Credit Suisse AG now owns 83,432 shares of the company valued at $4,024,000 after acquiring 1,977 additional shares in the last quarter. First Trust Advisors LP increased its stake in Avient shares by 35.8% in the second quarter. First Trust Advisors LP now owns 57,988 shares of the company valued at $2,851,000 after acquiring an additional 15,296 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Avient shares by 119.3% in the second quarter. Cubist Systematic Strategies LLC now owns 36,001 shares of the company valued at $1,770,000 after acquiring 19,585 additional shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Avient by 1.7% during the second quarter. UBS Asset Management Americas Inc. now owns 111,211 shares of the company worth $5,467,000 after buying 1,859 additional shares in the last quarter. Finally, Invesco Ltd. increased its stake in Avient by 15.2% during the second quarter. Invesco Ltd. now owns 333,517 shares of the company worth $16,396,000 after purchasing an additional 44,065 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s shares.
About Avenir (Get a rating)
Avenir 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 company is also involved in the development and manufacture of performance-enhancing additives, liquid colorants, fluoropolymers and silicone-based colorants.
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