FY2024 EPS Estimates for Avient Lowered by Seaport Res Ptn

Avient Co. (NYSE:AVNT) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Avient in a report released on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now anticipates that the company will post earnings per share of $2.65 for the year, down from their previous estimate 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 released its quarterly earnings results on Thursday, October 31st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Avient had a net margin of 4.66% and a return on equity of 10.56%. The firm had revenue of $815.20 million during the quarter, compared to analyst estimates of $797.50 million. During the same period in the previous year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis.

AVNT has been the subject of several other reports. Oppenheimer lifted their price target on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Avient Trading Down 0.8 %

NYSE AVNT opened at $42.64 on Friday. The stock’s 50 day moving average is $45.00 and its 200 day moving average is $46.56. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.90 billion, a PE ratio of 26.32, a P/E/G ratio of 1.06 and a beta of 1.52. Avient has a twelve month low of $35.58 and a twelve month high of $54.68.

Institutional Investors Weigh In On Avient

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

Insider Transactions at Avient

In related news, SVP Joel R. Rathbun sold 5,762 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.88% 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.