Analysts expect Avnet, Inc. (NYSE:AVT) to post $4.80 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Avnet’s earnings, with the highest sales estimate coming in at $4.81 billion and the lowest estimate coming in at $4.80 billion. Avnet reported sales of $4.44 billion in the same quarter last year, which would suggest a positive year over year growth rate of 8.1%. The company is expected to issue its next earnings results on Thursday, April 26th.
On average, analysts expect that Avnet will report full-year sales of $4.80 billion for the current year, with estimates ranging from $18.70 billion to $18.83 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $19.11 billion per share, with estimates ranging from $18.79 billion to $19.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Avnet.
Avnet (NYSE:AVT) last released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. Avnet had a return on equity of 7.87% and a net margin of 2.51%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year.
In other Avnet news, CEO Amelio J. William bought 3,000 shares of the stock in a transaction dated Friday, December 8th. The stock was bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.65% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Advisor Group Inc. increased its stake in shares of Avnet by 7.1% in the second quarter. Advisor Group Inc. now owns 8,208 shares of the technology company’s stock valued at $318,000 after buying an additional 544 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Avnet by 17.0% in the third quarter. Brookstone Capital Management now owns 8,760 shares of the technology company’s stock valued at $344,000 after buying an additional 1,275 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Avnet by 37.4% in the fourth quarter. Toronto Dominion Bank now owns 7,253 shares of the technology company’s stock valued at $287,000 after buying an additional 1,974 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Avnet by 1.0% in the third quarter. Asset Management One Co. Ltd. now owns 203,988 shares of the technology company’s stock valued at $8,020,000 after buying an additional 2,000 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Avnet by 11.3% in the third quarter. Pacer Advisors Inc. now owns 22,045 shares of the technology company’s stock valued at $866,000 after buying an additional 2,245 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.
Avnet (NYSE AVT) opened at $39.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 2.75. Avnet has a 12 month low of $35.67 and a 12 month high of $47.19. The stock has a market capitalization of $4,800.00, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.
Avnet announced that its Board of Directors has authorized a share buyback plan on Friday, November 10th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 12th. This is a positive change from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.91%. Avnet’s dividend payout ratio (DPR) is 32.43%.
ILLEGAL ACTIVITY NOTICE: “$4.80 Billion in Sales Expected for Avnet, Inc. (AVT) This Quarter” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2018/02/10/4-80-billion-in-sales-expected-for-avnet-inc-avt-this-quarter.html.
Avnet Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.