Avnet (AVT) Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Avnet in the last twelve months. There are currently 2 sell ratings and 3 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "reduce" AVT shares.
View AVT analyst ratings or view top-rated stocks.

5 analysts have issued 1-year price objectives for Avnet's shares. Their AVT share price forecasts range from $40.00 to $50.00. On average, they predict the company's share price to reach $47.40 in the next year. This suggests that the stock has a possible downside of 3.2%.
View analysts price targets for AVT or view top-rated stocks among Wall Street analysts.

Avnet's stock was trading at $41.58 at the beginning of 2023. Since then, AVT shares have increased by 17.7% and is now trading at $48.96.
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Avnet saw a drop in short interest in the month of September. As of September 15th, there was short interest totaling 2,330,000 shares, a drop of 6.4% from the August 31st total of 2,490,000 shares. Based on an average trading volume of 646,600 shares, the short-interest ratio is currently 3.6 days. Currently, 2.6% of the company's shares are sold short.
View Avnet's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023.
View our AVT earnings forecast.

Avnet, Inc. (NASDAQ:AVT) posted its quarterly earnings results on Wednesday, August, 16th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.41. The business earned $6.55 billion during the quarter, compared to the consensus estimate of $6.27 billion. Avnet had a trailing twelve-month return on equity of 16.88% and a net margin of 2.90%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 EPS.

Avnet declared a quarterly dividend on Tuesday, August 29th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.31 per share on Wednesday, September 27th. This represents a $1.24 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, September 12th. This is a positive change from the stock's previous quarterly dividend of $0.29.
Read our dividend analysis for AVT.

ETFs with the largest weight of Avnet (NASDAQ:AVT) stock in their portfolio include ProShares S&P Technology Dividend Aristocrats ETF (TDV), Invesco S&P MidCap Value with Momentum ETF (XMVM), Cambria Value and Momentum ETF (VAMO), Invesco S&P MidCap 400 Pure Value ETF (RFV), Qraft AI-Enhanced Next Value ETF (NVQ), ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM), OneAscent Large Cap Core ETF (OALC) and AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG).

Avnet (NASDAQ:AVT) pays an annual dividend of $1.24 per share and currently has a dividend yield of 2.64%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 14.99%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AVT will have a dividend payout ratio of 18.90% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for AVT.

Avnet updated its first quarter 2024 earnings guidance on Wednesday, August, 16th. The company provided earnings per share (EPS) guidance of $1.45-$1.55 for the period, compared to the consensus EPS estimate of $1.39. The company issued revenue guidance of $6.15 billion-$6.45 billion, compared to the consensus revenue estimate of $6.03 billion.

Avnet trades on the NASDAQ under the ticker symbol "AVT."

Shares of AVT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of AVT stock can currently be purchased for approximately $48.96.

Avnet (NASDAQ:AVT) has a market capitalization of $4.48 billion and generates $26.54 billion in revenue each year. The company earns $770.83 million in net income (profit) each year or $8.27 on an earnings per share basis.

The company employs 15,800 workers across the globe.

Avnet's mailing address is 2211 SOUTH 47TH STREET, PHOENIX AZ, 85034. The official website for the company is www.avnet.com. The company can be reached via phone at (480) 643-2000, via email at investorrelations@avnet.com, or via fax at 480-643-7370.