Avnet (AVT) Set to Announce Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVT) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.11 per share for the quarter. Avnet has set its Q3 guidance at $1.05-1.15 EPS and its Q3 2024 guidance at 1.050-1.150 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.01. Avnet had a net margin of 2.62% and a return on equity of 13.60%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. 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 AVT opened at $48.47 on Wednesday. Avnet has a 1 year low of $39.64 and a 1 year high of $51.65. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. The firm has a fifty day moving average of $47.32 and a 200-day moving average of $47.32.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is 17.13%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut their price objective on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.50.

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.