Avnet (NASDAQ:AVT) Updates Q4 2024 Earnings Guidance

Avnet (NASDAQ:AVT) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Avnet Trading Down 1.2 %

Avnet stock traded down $0.61 during trading hours on Wednesday, reaching $48.26. The company had a trading volume of 214,467 shares, compared to its average volume of 578,745. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 1.05. The company has a 50-day moving average price of $47.69 and a 200 day moving average price of $47.36. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 6.75, a P/E/G ratio of 0.66 and a beta of 1.24. Avnet has a 12-month low of $40.00 and a 12-month high of $51.65.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Avnet had a return on equity of 13.60% and a net margin of 2.62%. During the same period in the previous year, the firm earned $2.00 EPS. Equities analysts forecast that Avnet will post 5.25 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders 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 dividend on an annualized basis and a yield of 2.57%. Avnet’s dividend payout ratio (DPR) is currently 17.13%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased their price target on Avnet from $48.00 to $42.00 and set a sell rating on the stock in a research note 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 MarketBeat.com, Avnet presently has a consensus rating of Hold and a consensus target price 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.