Zacks Research Has Negative Estimate for Avnet Q4 Earnings

Key Points

• Analysts at Zacks Research have lowered their Q4 2027 earnings per share estimate for Avnet to $1.87, down from $1.89, maintaining a "Hold" rating on the stock.
• Truist Financial and Bank of America have adjusted their price targets for Avnet, with the latter setting a target of $50.00 and rating the stock as "underperform."
• Avnet has increased its quarterly dividend to $0.35 per share, reflecting an annualized yield of 2.7%, up from the previous dividend of $0.33.

Avnet, Inc. (NASDAQ:AVT - Free Report) - Analysts at Zacks Research cut their Q4 2027 earnings per share (EPS) estimates for shares of Avnet in a research note issued on Tuesday, October 21st. Zacks Research analyst Team now expects that the company will post earnings per share of $1.87 for the quarter, down from their previous forecast of $1.89. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Avnet's current full-year earnings is $3.41 per share.

AVT has been the subject of a number of other reports. Truist Financial raised their price target on Avnet from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Avnet in a research note on Wednesday, October 8th. Finally, Bank of America raised their price target on Avnet from $48.00 to $50.00 and gave the stock an "underperform" rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $49.00.

Avnet Price Performance

NASDAQ:AVT opened at $51.22 on Thursday. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.39 and a beta of 1.06. Avnet has a 1 year low of $39.22 and a 1 year high of $59.24. The business has a 50 day simple moving average of $52.91 and a 200-day simple moving average of $51.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 1.16.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. The business had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.36 billion. Avnet had a return on equity of 6.07% and a net margin of 1.08%.The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Avnet by 109.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 276 shares during the period. Legacy Advisors LLC purchased a new position in Avnet during the 1st quarter worth $26,000. TD Private Client Wealth LLC increased its holdings in Avnet by 43.0% during the 1st quarter. TD Private Client Wealth LLC now owns 818 shares of the company's stock worth $39,000 after purchasing an additional 246 shares during the period. SJS Investment Consulting Inc. increased its holdings in Avnet by 7,176.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 946 shares of the company's stock worth $49,000 after purchasing an additional 933 shares during the period. Finally, Traub Capital Management LLC purchased a new position in Avnet during the 2nd quarter worth $50,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Wednesday, September 17th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, September 17th. This is an increase from Avnet's previous quarterly dividend of $0.33. Avnet's dividend payout ratio (DPR) is 51.28%.

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.

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