Avient (NYSE:AVNT – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07, Briefing.com reports. Avient had a net margin of 2.41% and a return on equity of 9.26%. The firm had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $818.45 million. During the same period in the prior year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Avient updated its Q2 guidance to $0.71 EPS and its FY24 guidance to $2.50-2.65 EPS.
Avient Price Performance
Shares of AVNT stock traded down $0.74 on Wednesday, reaching $45.58. 79,915 shares of the company were exchanged, compared to its average volume of 461,185. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 54.99, a P/E/G ratio of 0.91 and a beta of 1.53. Avient has a 1 year low of $27.73 and a 1 year high of $47.87. The business has a 50-day moving average price of $42.16 and a 200 day moving average price of $38.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.37 and a current ratio of 1.82.
Avient Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.257 per share. This represents a $1.03 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, March 18th. Avient’s payout ratio is 124.10%.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Avient
About Avient
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.
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