Avnet (NASDAQ:AVT) Announces Quarterly Earnings Results

Avnet (NASDAQ:AVTGet Free Report) released its quarterly earnings data on Wednesday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06, Briefing.com reports. Avnet had a return on equity of 9.92% and a net margin of 2.10%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. Avnet updated its Q2 guidance to $0.80-0.90 EPS and its Q2 2025 guidance to 0.800-0.900 EPS.

Avnet Price Performance

Avnet stock opened at $57.69 on Thursday. The business’s 50-day simple moving average is $53.52 and its 200 day simple moving average is $52.60. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 10.66 and a beta of 1.15. Avnet has a 12-month low of $42.67 and a 12-month high of $59.24. The company has a quick ratio of 1.10, a current ratio of 2.32 and a debt-to-equity ratio of 0.49.

Avnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, September 11th. This is a boost from Avnet’s previous quarterly dividend of $0.31. Avnet’s dividend payout ratio is presently 24.40%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVT. Stifel Nicolaus increased their price objective on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Truist Financial increased their target price on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Friday, August 9th.

Read Our Latest Analysis on AVT

Avnet Company Profile

(Get Free Report)

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.

See Also

Earnings History for Avnet (NASDAQ:AVT)

Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.