Avnet (AVT) to Release Earnings on Wednesday

Avnet (NASDAQ:AVT) will be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Avnet to post earnings of $1.11 per share for the quarter. Avnet has set its Q3 guidance at $1.05-1.15 EPS and its Q3 2024 guidance at 1.050-1.150 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.39 by $0.01. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same period in the previous year, the firm posted $2.00 earnings per share. On average, analysts expect Avnet to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Avnet Stock Performance

AVT stock opened at $50.10 on Monday. The company has a quick ratio of 1.05, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 0.66 and a beta of 1.24. Avnet has a 12 month low of $39.64 and a 12 month high of $51.65. The firm has a 50 day moving average of $47.59 and a two-hundred day moving average of $47.35.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.48%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio is 17.13%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered their target price on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.50.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.