$4.80 Billion in Sales Expected for Avnet, Inc. (AVT) This Quarter

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.

Several research analysts have issued reports on the company. Citigroup increased their price objective on Avnet from $31.00 to $34.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Goldman Sachs Group upgraded Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a research note on Friday, January 5th. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Cross Research upgraded Avnet from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.57.

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%.

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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.

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Earnings History and Estimates for Avnet (NYSE:AVT)

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