Avnet (AVT) Scheduled to Post Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT) will be issuing its quarterly earnings data 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.Parties 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 data on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.39 by $0.01. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same period last year, the firm posted $2.00 EPS. On average, analysts expect Avnet to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Avnet Stock Down 0.3 %

NASDAQ:AVT opened at $49.96 on Tuesday. 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 twelve month low of $40.00 and a twelve month high of $51.65. The company has a market cap of $4.51 billion, a PE ratio of 6.90, a P/E/G ratio of 0.66 and a beta of 1.24. The company’s 50 day moving average is $47.69 and its two-hundred day moving average is $47.36.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders 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 dividend yield of 2.48%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 17.13%.

Analysts Set New Price Targets

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