AVX Corporation (AVX) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
AVX Corporation (NYSE:AVX) released its earnings results on Wednesday. The electronics maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01, MarketWatch Earnings reports. The firm had revenue of $352.70 million during the quarter, compared to analysts’ expectations of $348.30 million. AVX Corporation had a net margin of 9.46% and a return on equity of 5.69%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS.
Shares of AVX Corporation (AVX) traded down 2.49% during trading on Wednesday, hitting $19.15. 168,186 shares of the stock were exchanged. AVX Corporation has a 1-year low of $13.70 and a 1-year high of $20.22. The firm’s 50-day moving average is $18.39 and its 200 day moving average is $17.24. The company has a market cap of $3.22 billion, a P/E ratio of 25.20 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a $0.115 dividend. This is a boost from AVX Corporation’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.34%. AVX Corporation’s dividend payout ratio is currently 58.67%.
A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and issued a $17.00 price objective on shares of AVX Corporation in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of AVX Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research note on Friday, October 6th. Finally, BidaskClub cut shares of AVX Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th.
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About AVX Corporation
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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