Avnet (AVT) Scheduled to Post Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVTGet Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $1.84 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Avnet (NASDAQ:AVTGet Rating) last released its earnings results on Wednesday, October 26th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.36 billion. Avnet had a return on equity of 18.23% and a net margin of 3.00%. Avnet’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, analysts expect Avnet to post $7 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Avnet Price Performance

NASDAQ:AVT opened at $44.65 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 2.04. The stock’s 50-day simple moving average is $43.33 and its 200 day simple moving average is $41.76. The company has a market cap of $4.09 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.26 and a beta of 1.33. Avnet has a 52-week low of $35.45 and a 52-week high of $50.19.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Tuesday, December 6th. Avnet’s dividend payout ratio is currently 14.91%.

Hedge Funds Weigh In On Avnet

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its holdings in shares of Avnet by 3.9% during the first quarter. Jane Street Group LLC now owns 8,498 shares of the company’s stock worth $345,000 after acquiring an additional 317 shares during the period. LPL Financial LLC boosted its holdings in shares of Avnet by 5.6% during the second quarter. LPL Financial LLC now owns 10,193 shares of the company’s stock worth $437,000 after acquiring an additional 542 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Avnet by 29.3% during the first quarter. Captrust Financial Advisors now owns 3,298 shares of the company’s stock worth $134,000 after acquiring an additional 747 shares during the period. Quantbot Technologies LP bought a new stake in shares of Avnet during the first quarter worth approximately $38,000. Finally, Mariner LLC boosted its holdings in shares of Avnet by 5.4% during the first quarter. Mariner LLC now owns 22,721 shares of the company’s stock worth $922,000 after acquiring an additional 1,172 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVT shares. Stifel Nicolaus lowered their target price on Avnet from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, October 10th. StockNews.com downgraded Avnet from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.86.

About Avnet

(Get Rating)

Avnet, Inc engages in the distribution and sale of electronic components. It operates through the Electronic Components and Farnell segments. The Electronic Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment is involved in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources.

See Also

Earnings History for Avnet (NASDAQ:AVT)

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