Avnet (AVT) Scheduled to Post Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT) is scheduled to announce its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.22 earnings per share 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 company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. 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 0.1 %

NASDAQ:AVT opened at $54.06 on Wednesday. Avnet has a 1-year low of $42.67 and a 1-year high of $55.84. The company has a 50-day moving average of $53.47 and a 200 day moving average of $52.32. The firm has a market cap of $4.89 billion, a PE ratio of 8.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.10.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This is a positive change from Avnet’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%. Avnet’s dividend payout ratio is 21.36%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial increased their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Stifel Nicolaus increased their price target on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company upped their price objective on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a 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.