Avient (NYSE:AVNT – Get Free Report) released its earnings results on Tuesday. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04, Briefing.com reports. The business had revenue of $850.00 million during the quarter, compared to the consensus estimate of $841.40 million. Avient had a return on equity of 9.79% and a net margin of 3.37%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share.
Avient Stock Performance
Shares of Avient stock traded up $1.55 on Thursday, reaching $44.98. 448,609 shares of the stock were exchanged, compared to its average volume of 465,664. Avient has a twelve month low of $27.73 and a twelve month high of $47.87. The business has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $42.28. The company has a quick ratio of 1.42, a current ratio of 1.90 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 1.24 and a beta of 1.47.
Avient Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 13th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.29%. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 13th. Avient’s dividend payout ratio (DPR) is presently 89.57%.
Analysts Set New Price Targets
Read Our Latest Analysis on Avient
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.
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