$1.96 EPS Expected for Avnet, Inc. (NASDAQ:AVT) This Quarter

Analysts expect Avnet, Inc. (NASDAQ:AVTGet Rating) to post earnings of $1.96 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Avnet’s earnings. The lowest EPS estimate is $1.95 and the highest is $1.98. Avnet reported earnings of $1.12 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 75%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Avnet will report full-year earnings of $6.83 per share for the current financial year, with EPS estimates ranging from $6.81 to $6.84. For the next financial year, analysts expect that the firm will post earnings of $6.99 per share, with EPS estimates ranging from $5.97 to $7.73. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Avnet.

Avnet (NASDAQ:AVTGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.63. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a net margin of 2.29% and a return on equity of 14.40%. Avnet’s revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS.

A number of brokerages recently commented on AVT. Truist Financial dropped their price target on shares of Avnet from $45.00 to $41.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Tuesday, April 5th. Finally, Raymond James upped their target price on shares of Avnet from $52.00 to $57.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 27th. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $45.75.

In other news, Director William H. Schumann sold 3,856 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $45.20, for a total value of $174,291.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AVT. Norges Bank bought a new position in shares of Avnet during the 4th quarter valued at $40,161,000. JPMorgan Chase & Co. grew its holdings in shares of Avnet by 262.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,119,812 shares of the company’s stock valued at $46,170,000 after purchasing an additional 810,797 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Avnet by 8,388.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 638,171 shares of the company’s stock valued at $23,593,000 after purchasing an additional 630,653 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Avnet by 6.9% during the 4th quarter. BlackRock Inc. now owns 9,551,529 shares of the company’s stock valued at $393,810,000 after purchasing an additional 619,122 shares during the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of Avnet by 5,575.5% during the 4th quarter. ARGA Investment Management LP now owns 611,591 shares of the company’s stock valued at $25,216,000 after purchasing an additional 600,815 shares during the last quarter. 96.44% of the stock is currently owned by institutional investors.

Shares of AVT stock opened at $46.90 on Thursday. The stock has a market capitalization of $4.58 billion, a P/E ratio of 8.87, a PEG ratio of 0.18 and a beta of 1.28. The company has a current ratio of 2.02, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $41.52 and its 200 day moving average is $40.56. Avnet has a 12 month low of $35.71 and a 12 month high of $48.22.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 16th. Stockholders of record on Wednesday, March 2nd were issued a $0.26 dividend. This is a positive change from Avnet’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.22%. Avnet’s dividend payout ratio is presently 19.66%.

About Avnet (Get Rating)

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

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Earnings History and Estimates for Avnet (NASDAQ:AVT)

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