Avnet (NASDAQ:AVT) Issues Q4 2024 Earnings Guidance

Avnet (NASDAQ:AVT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.900-1.000 for the period, compared to the consensus earnings per share estimate of 1.120. The company issued revenue guidance of $5.2 billion-$5.5 billion, compared to the consensus revenue estimate of $5.7 billion. Avnet also updated its Q4 guidance to $0.90-1.00 EPS.

Analysts Set New Price Targets

AVT has been the topic of a number of recent research reports. Truist Financial decreased their target price on Avnet from $49.00 to $48.00 and set a hold rating on the stock in a report on Thursday. The Goldman Sachs Group cut their price target on Avnet from $48.00 to $42.00 and set a sell rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, Avnet has an average rating of Hold and an average target price of $45.00.

Avnet Trading Up 1.6 %

Shares of Avnet stock traded up $0.77 during trading hours on Friday, hitting $49.41. The company’s stock had a trading volume of 746,177 shares, compared to its average volume of 581,849. The company has a market capitalization of $4.46 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. Avnet has a 12 month low of $40.44 and a 12 month high of $51.65. The stock has a 50 day moving average of $47.92 and a 200 day moving average of $47.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. Analysts predict that Avnet will post 5.19 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.51%. Avnet’s dividend payout ratio is presently 20.06%.

About Avnet

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.