Research Analysts Issue Forecasts for Avient FY2024 Earnings

Avient Co. (NYSE:AVNT) – Investment analysts at Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for Avient in a research note issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts 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 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.

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

A number of other research firms also recently issued reports on AVNT. Oppenheimer increased their price target on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price target on Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One 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 $55.50.

Avient Stock Performance

Shares of NYSE:AVNT opened at $42.64 on Friday. The firm’s 50 day simple moving average is $45.00 and its 200-day simple moving average is $46.56. The firm has a market cap of $3.90 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. Avient has a one year low of $35.58 and a one year high of $54.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63.

Insiders Place Their Bets

In related news, SVP Joel R. Rathbun sold 5,762 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 is available through this link. Corporate insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Avient

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Avient by 81.6% during the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 298 shares during the last quarter. Signaturefd LLC increased its stake in shares of Avient by 58.7% in the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after acquiring an additional 320 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after acquiring an additional 310 shares during the period. GAMMA Investing LLC boosted its position in shares of Avient by 35.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock valued at $55,000 after acquiring an additional 287 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Avient in the third quarter valued at about $60,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Company Profile

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.