Wall Street analysts expect that Avnet, Inc. (NYSE:AVT) will report earnings of $0.96 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Avnet’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.95. Avnet reported earnings of $0.88 per share in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is expected to announce its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Avnet will report full year earnings of $3.47 per share for the current year, with EPS estimates ranging from $3.43 to $3.51. For the next fiscal year, analysts expect that the business will report earnings of $4.02 per share, with EPS estimates ranging from $3.75 to $4.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms 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 for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business earned $0.77 EPS. Avnet’s revenue was up 5.8% compared to the same quarter last year.
In related news, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total value of $61,452.37. Following the transaction, the insider now owns 5,354 shares of the company’s stock, valued at $217,747.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $42.00, for a total transaction of $600,264.00. Following the completion of the transaction, the insider now directly owns 22,178 shares in the company, valued at approximately $931,476. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in shares of Avnet by 262.0% in the third quarter. Janus Henderson Group PLC now owns 764,285 shares of the technology company’s stock worth $30,037,000 after buying an additional 553,130 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Avnet in the third quarter worth approximately $435,000. Cerebellum GP LLC purchased a new position in shares of Avnet in the fourth quarter worth approximately $3,489,000. Earnest Partners LLC purchased a new position in Avnet during the third quarter valued at approximately $17,864,000. Finally, Toronto Dominion Bank lifted its holdings in Avnet by 233.3% during the third 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 in the last quarter. 96.38% of the stock is currently owned by institutional investors.
Shares of Avnet (NYSE AVT) opened at $44.21 on Wednesday. Avnet has a 12 month low of $35.67 and a 12 month high of $46.61. The company has a market cap of $5,325.57, a P/E ratio of 12.25, a PEG ratio of 1.42 and a beta of 0.97. The company has a quick ratio of 1.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be issued a $0.19 dividend. This is an increase from Avnet’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.72%. Avnet’s dividend payout ratio (DPR) is presently 21.05%.
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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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