Avnet (AVT) to Release Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT - Get Free Report) is set to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Avnet to post earnings of $0.85 per share for the quarter. Avnet has set its Q1 guidance at $0.80-0.90 EPS and its Q1 2025 guidance at 0.800-0.900 EPS.Individual that are interested in participating in the company's earnings conference call can do so using this link.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.27. Avnet had a net margin of 2.10% and a return on equity of 9.92%. The firm had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the prior year, the company posted $2.06 earnings per share. Avnet's revenue for the quarter was down 15.1% on a year-over-year basis. On average, analysts expect Avnet to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Avnet Stock Performance

Shares of NASDAQ:AVT traded down $0.15 during trading on Wednesday, reaching $53.91. The stock had a trading volume of 607,206 shares, compared to its average volume of 589,345. The stock has a fifty day simple moving average of $53.49 and a two-hundred day simple moving average of $52.36. 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 has a 52 week low of $42.67 and a 52 week high of $55.84. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 8.75 and a beta of 1.15.

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.45%. This is a boost from Avnet's previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, September 11th. Avnet's dividend payout ratio is 21.36%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AVT. Wells Fargo & Company boosted their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an "underweight" rating in a report on Friday, August 9th. Truist Financial raised their price objective on Avnet from $48.00 to $52.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on Avnet from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, August 9th.

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.