Equities analysts forecast that Avnet (NYSE:AVT) will announce earnings per share (EPS) of $0.96 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Avnet’s earnings, with estimates ranging from $0.95 to $0.97. Avnet reported earnings of $0.88 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Avnet will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.43 to $3.51. For the next year, analysts forecast that the firm will report earnings of $4.02 per share, with EPS estimates ranging from $3.75 to $4.39. Zacks’ earnings per share averages are a mean average based on a survey of 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, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Avnet had a net margin of 2.51% and a return on equity of 7.87%. Avnet’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share.
A number of equities analysts have commented on AVT shares. Zacks Investment Research cut shares of Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Goldman Sachs raised shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a research note on Friday, January 5th. Finally, Pivotal Research started coverage on shares of Avnet in a research note on Tuesday, February 13th. They issued a “hold” rating and a $44.00 price objective for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.38.
AVT traded down $1.00 during trading on Tuesday, hitting $39.93. 1,001,416 shares of the company traded hands, compared to its average volume of 892,489. The stock has a market capitalization of $4,964.54, a price-to-earnings ratio of 12.32, a PEG ratio of 1.32 and a beta of 0.96. Avnet has a 1 year low of $35.67 and a 1 year high of $45.09. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, March 12th. This is a positive change from Avnet’s previous quarterly dividend of $0.18. Avnet’s dividend payout ratio (DPR) is 23.46%.
In other news, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the sale, the insider now owns 22,178 shares in the company, valued at approximately $931,476. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Avnet by 5.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 190,900 shares of the technology company’s stock worth $7,563,000 after acquiring an additional 9,700 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Avnet in the 4th quarter worth about $3,031,000. Janus Henderson Group PLC lifted its holdings in shares of Avnet by 262.0% in the 3rd quarter. Janus Henderson Group PLC now owns 764,285 shares of the technology company’s stock worth $30,037,000 after acquiring an additional 553,130 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Avnet in the 3rd quarter worth about $435,000. Finally, Cerebellum GP LLC bought a new stake in shares of Avnet in the 4th quarter worth about $3,489,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.
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Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.
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