Timing, Fundamentals, and Diversification of Avient Corporation (AVNT)

Avient Corporation (NYSE: AVNT) closed the day trading at $38.60 down -2.60% from the previous closing price of $39.63. In other words, the price has decreased by -$0.78 from its previous closing price. On the day, 589557 shares were traded. AVNT stock price reached its highest trading level at $39.07 during the session, while it also had its lowest trading level at $37.70.

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For a better understanding of AVNT, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.66 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 17.60. For the most recent quarter (mrq), Quick Ratio is recorded 1.40 and its Current Ratio is at 1.80. In the meantime, Its Debt-to-Equity ratio is 0.93 whereas as Long-Term Debt/Eq ratio is at 0.93.

Upgrades & Downgrades

On October 17, 2022, Deutsche Bank started tracking the stock assigning a Buy rating and target price of $40.

Valuation Measures:

As of this moment, Avient’s Price-to-Earnings (P/E) ratio for their current fiscal year is 42.79, and their Forward P/E ratio for the next fiscal year is 12.94. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 14.26. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.07 while its Price-to-Book (P/B) ratio in mrq is 1.50.

Stock Price History:

Over the past 52 weeks, AVNT has reached a high of $54.77, while it has fallen to a 52-week low of $27.65. The 50-Day Moving Average of the stock is 39.73, while the 200-Day Moving Average is calculated to be 38.99.

Shares Statistics:

Over the past 3-months, AVNT traded about 512.52K shares per day on average, while over the past 10 days, AVNT traded about 425.31k shares per day. A total of 90.90M shares are outstanding, with a floating share count of 89.81M. Insiders hold about 1.10% of the company’s shares, while institutions hold 96.90% stake in the company. Shares short for AVNT as of Jan 30, 2023 were 1.23M with a Short Ratio of 1.66M, compared to 1.49M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.35% and a Short% of Float of 1.78%.

Dividends & Splits

AVNT’s forward annual dividend rate is 0.99, up from 0.85 a year ago. Against a Trailing Annual Dividend Yield of 2.16%, it implies a Forward Annual Dividend Yield of 2.59%. The stock’s 5-year Average Dividend Yield is 2.23.

Earnings Estimates

Current recommendations for the stock of the company come from 10 analysts. On average, analysts expect EPS of $0.24 for the current quarter, with a high estimate of $0.38 and a low estimate of -$0.14, while EPS last year was $0.58. The consensus estimate for the next quarter is $0.56, with high estimates of $0.83 and low estimates of $0.42.

Analysts are recommending an EPS of between $2.97 and $2.37 for the fiscal current year, implying an average EPS of $2.74. EPS for the following year is $2.37, with 10 analysts recommending between $2.59 and $1.95.

Revenue Estimates

7 analysts predict $761.9M in revenue for the current quarter. It ranges from a high estimate of $850.6M to a low estimate of $574M. As of the current estimate, Avient Corporation’s year-ago sales were $1.2B, an estimated decrease of -36.60% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $872.3M, a decrease of -32.60% over than the figure of -$36.60% in the same quarter last year. There is a high estimate of $921M for the next quarter, whereas the lowest estimate is $813M.

A total of 10 analysts have provided revenue estimates for AVNT’s current fiscal year. The highest revenue estimate was $4.24B, while the lowest revenue estimate was $3.38B, resulting in an average revenue estimate of $3.79B. In the same quarter a year ago, actual revenue was $4.82B, down -21.30% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $3.46B in the next fiscal year. The high estimate is $3.62B and the low estimate is $3.23B. The average revenue growth estimate for next year is down -8.60% from the average revenue estimate for this year.