Avnet (AVT) Scheduled to Post Quarterly Earnings on Wednesday

Avnet (NASDAQ:AVTGet Rating) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $1.84 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Avnet (NASDAQ:AVTGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. Avnet had a return on equity of 18.23% and a net margin of 3.00%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter last year, the company earned $1.22 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts expect Avnet to post $7 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Avnet Price Performance

Shares of AVT stock opened at $44.65 on Wednesday. The stock has a 50 day moving average of $43.33 and a two-hundred day moving average of $41.76. The company has a current ratio of 2.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. Avnet has a 12 month low of $35.45 and a 12 month high of $50.19. The company has a market capitalization of $4.09 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.26 and a beta of 1.33.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.60%. Avnet’s dividend payout ratio is currently 14.91%.

Institutional Investors Weigh In On Avnet

A number of hedge funds and other institutional investors have recently bought and sold shares of AVT. Renaissance Technologies LLC acquired a new stake in Avnet during the 2nd quarter valued at $10,561,000. Prudential Financial Inc. increased its holdings in Avnet by 145.6% during the 2nd quarter. Prudential Financial Inc. now owns 148,731 shares of the company’s stock valued at $6,262,000 after purchasing an additional 88,169 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Avnet during the 1st quarter valued at $3,167,000. Vanguard Group Inc. increased its holdings in Avnet by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 10,812,840 shares of the company’s stock valued at $438,893,000 after purchasing an additional 49,576 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Avnet by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 925,415 shares of the company’s stock valued at $37,563,000 after purchasing an additional 44,685 shares in the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on AVT. StockNews.com downgraded Avnet from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Stifel Nicolaus dropped their target price on Avnet from $48.00 to $42.00 and set a “hold” rating for the company in a report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.86.

Avnet Company Profile

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Avnet, Inc engages in the distribution and sale of electronic components. It operates through the Electronic Components and Farnell segments. The Electronic Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment is involved in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources.

See Also

Earnings History for Avnet (NASDAQ:AVT)

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