Avnet (AVT) Scheduled to Post Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT) is scheduled to be announcing its earnings results 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.Investors that are interested in registering for the company’s 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 the consensus estimate of $1.39 by $0.01. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same quarter in the prior year, the firm posted $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 $49.96 on Tuesday. Avnet has a twelve month low of $40.00 and a twelve month high of $51.65. The company has a market capitalization of $4.51 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The firm has a 50 day moving average of $47.69 and a 200 day moving average of $47.36. The company has a quick ratio of 1.05, a current ratio of 2.34 and a debt-to-equity ratio of 0.55.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.31 dividend. 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 payout ratio is 17.13%.

Wall Street Analyst Weigh In

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

Avnet Company Profile

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.