Avnet (AVT) to Release Earnings on Wednesday

Avnet (NASDAQ:AVT) is scheduled to announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce 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.Investors that are interested in registering for the company’s conference call can do so using this link.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. Avnet had a net margin of 2.62% and a return on equity of 13.60%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter 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

Shares of AVT opened at $50.10 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. Avnet has a twelve month low of $39.64 and a twelve month high of $51.65. The firm’s 50 day moving average price is $47.59 and its two-hundred day moving average price is $47.35. The firm has a market cap of $4.53 billion, a P/E ratio of 6.92, a PEG ratio of 0.66 and a beta of 1.24.

Avnet Dividend Announcement

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

Analysts Set New Price Targets

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