Avnet (AVT) Set to Announce Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Avnet to post 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

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

Shares of AVT opened at $48.47 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. Avnet has a 1 year low of $39.64 and a 1 year high of $51.65. The stock has a market cap of $4.38 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24. The stock’s 50-day moving average price is $47.32 and its two-hundred day moving average price is $47.32.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is currently 17.13%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their target price on Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, Avnet has a consensus rating of “Hold” and a consensus price target of $45.50.

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.