Avnet (NASDAQ:AVT) Announces Earnings Results

Avnet (NASDAQ:AVT) released its quarterly earnings data on Wednesday. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06, Briefing.com reports. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Avnet updated its Q2 guidance to $0.80-0.90 EPS and its Q2 2025 guidance to 0.800-0.900 EPS.

Avnet Stock Down 6.0 %

Shares of NASDAQ AVT opened at $54.21 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $53.51 and a 200 day moving average of $52.61. Avnet has a 12-month low of $42.67 and a 12-month high of $59.24. The stock has a market cap of $4.74 billion, a PE ratio of 14.19 and a beta of 1.15.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.33 dividend. This is an increase from Avnet’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, September 11th. Avnet’s dividend payout ratio (DPR) is currently 34.56%.

Analyst Upgrades and Downgrades

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

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.