Analysts predict that Avnet, Inc. (NYSE:AVT) will post earnings of $0.96 per share for the current quarter, according to Zacks. Four analysts have made estimates for Avnet’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.95. Avnet reported earnings per share of $0.88 during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is expected to issue 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 financial year, analysts expect that the company will post earnings of $4.02 per share, with EPS estimates ranging from $3.75 to $4.39. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Avnet.
Avnet (NYSE:AVT) last posted its earnings results on Thursday, January 25th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.46 billion. Avnet had a return on equity of 7.87% and a net margin of 2.51%. Avnet’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share.
AVT has been the subject of a number of analyst reports. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Pivotal Research initiated coverage on Avnet in a report on Tuesday, February 13th. They set a “hold” rating and a $44.00 target price for the company. Zacks Investment Research lowered Avnet from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Goldman Sachs upgraded Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.13.
Avnet (AVT) traded up $0.57 during trading on Wednesday, reaching $44.71. The company’s stock had a trading volume of 905,806 shares, compared to its average volume of 650,288. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 2.75. The stock has a market capitalization of $5,294.38, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.41 and a beta of 0.97. Avnet has a one year low of $35.67 and a one year high of $46.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 12th. This is a positive change from Avnet’s previous quarterly dividend of $0.18. Avnet’s dividend payout ratio is currently 21.05%.
In other news, insider Kevin V. Summers sold 1,511 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total transaction of $61,452.37. Following the completion of the sale, the insider now owns 5,354 shares in the company, valued at approximately $217,747.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philip R. Gallagher sold 14,292 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $42.00, for a total value of $600,264.00. Following the sale, the insider now owns 22,178 shares of the company’s stock, valued at approximately $931,476. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC raised its stake in Avnet by 10.8% in the 4th quarter. Pzena Investment Management LLC now owns 9,031,623 shares of the technology company’s stock worth $357,833,000 after acquiring an additional 877,612 shares during the last quarter. Alliancebernstein L.P. raised its stake in Avnet by 2.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,873,654 shares of the technology company’s stock worth $74,234,000 after acquiring an additional 42,577 shares during the last quarter. LSV Asset Management raised its stake in Avnet by 5.0% in the 4th quarter. LSV Asset Management now owns 1,470,300 shares of the technology company’s stock worth $58,253,000 after acquiring an additional 69,700 shares during the last quarter. Prudential Financial Inc. raised its stake in Avnet by 19.2% in the 3rd quarter. Prudential Financial Inc. now owns 1,377,344 shares of the technology company’s stock worth $54,130,000 after acquiring an additional 222,109 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Avnet by 28.6% in the 4th quarter. Deutsche Bank AG now owns 1,202,803 shares of the technology company’s stock worth $47,653,000 after acquiring an additional 267,755 shares during the last quarter. Institutional investors own 96.38% of the company’s stock.
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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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