Avnet (AVT) to Release Earnings on Wednesday

Avnet (NASDAQ:AVT - Get Free Report) 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 wish to listen to the company's conference call can do so using this link.

Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share 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 company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the firm 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 Stock Up 1.6 %

Avnet stock traded up $0.77 during trading on Wednesday, hitting $49.24. 707,891 shares of the company were exchanged, compared to its average volume of 570,804. The business's 50 day moving average is $47.41 and its 200 day moving average is $47.34. Avnet has a 52 week low of $39.64 and a 52 week high of $51.65. The company has a market capitalization of $4.45 billion, a P/E ratio of 6.80, a PEG ratio of 0.63 and a beta of 1.24. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 annualized dividend and a yield of 2.52%. Avnet's dividend payout ratio (DPR) is currently 17.13%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their price target on Avnet from $48.00 to $42.00 and set a "sell" rating for the company in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.