Analysts forecast that Avnet, Inc. (NYSE:AVT) will report earnings per share (EPS) of $0.72 for the current quarter, Zacks reports. Four analysts have issued estimates for Avnet’s earnings, with estimates ranging from $0.69 to $0.73. Avnet reported earnings per share of $0.77 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.5%. The company is scheduled to issue its next earnings results on Thursday, January 25th.

On average, analysts expect that Avnet will report full year earnings of $3.36 per share for the current year, with EPS estimates ranging from $3.30 to $3.41. For the next financial year, analysts forecast that the company will report earnings of $3.82 per share, with EPS estimates ranging from $3.60 to $4.01. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Avnet.

Avnet (NYSE:AVT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.05. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.34 billion. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS.

AVT has been the subject of several research reports. ValuEngine raised shares of Avnet from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research raised shares of Avnet from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, October 10th. Stifel Nicolaus lifted their price target on shares of Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Citigroup lifted their price target on shares of Avnet from $31.00 to $34.00 and gave the company a “sell” rating in a report on Friday, October 27th. Finally, Cross Research raised shares of Avnet from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.57.

Avnet (AVT) traded up $0.55 during midday trading on Friday, hitting $41.03. 1,084,900 shares of the stock traded hands, compared to its average volume of 1,021,467. Avnet has a 1-year low of $35.67 and a 1-year high of $48.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63. The firm has a market cap of $4,960.00, a price-to-earnings ratio of 20.52, a PEG ratio of 1.32 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Wednesday, December 6th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, December 5th. Avnet’s payout ratio is 36.00%.

Avnet declared that its board has initiated a share repurchase plan on Friday, November 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other news, CEO Amelio J. William bought 3,000 shares of Avnet stock in a transaction on Friday, December 8th. The stock was purchased at an average cost of $39.16 per share, with a total value of $117,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Pacad Investment Ltd. acquired a new position in Avnet during the 2nd quarter valued at about $113,000. Riverhead Capital Management LLC boosted its stake in Avnet by 50.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,659 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,559 shares during the period. Toronto Dominion Bank boosted its stake in Avnet by 233.3% during the 3rd quarter. Toronto Dominion Bank now owns 5,279 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,695 shares during the period. M&T Bank Corp acquired a new position in Avnet during the 2nd quarter valued at about $208,000. Finally, Magnetar Financial LLC acquired a new position in Avnet during the 3rd quarter valued at about $218,000. 95.95% of the stock is owned by hedge funds and other institutional investors.

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About Avnet

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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Earnings History and Estimates for Avnet (NYSE:AVT)

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