Avnet (AVT) Set to Announce Earnings on Wednesday

Avnet (NYSE:AVT) will be releasing its earnings data before the market opens on Wednesday, April 25th. Analysts expect Avnet to post earnings of $0.96 per share for the quarter. Avnet has set its Q3 guidance at $0.90-1.00 EPS and its FY18 guidance at $3.35-3.55 EPS.

Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts expect Avnet to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

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Shares of AVT stock opened at $42.25 on Wednesday. Avnet has a 1 year low of $35.67 and a 1 year high of $45.09. The company has a quick ratio of 1.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.28. The firm has a market cap of $5,004.12, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were given a dividend of $0.19 per share. This is an increase from Avnet’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.80%. Avnet’s payout ratio is presently 23.46%.

In related news, insider Philip R. Gallagher sold 14,292 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the transaction, the insider now owns 22,178 shares of the company’s stock, valued at approximately $931,476. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin V. Summers sold 1,511 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total transaction of $61,452.37. Following the completion of the transaction, the insider now directly owns 5,354 shares of the company’s stock, valued at approximately $217,747.18. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

A number of brokerages have recently issued reports on AVT. Zacks Investment Research downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Pivotal Research began coverage on shares of Avnet in a research report on Tuesday, February 13th. They set a “hold” rating and a $44.00 price objective for the company. Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Finally, Goldman Sachs raised shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Avnet presently has a consensus rating of “Hold” and a consensus target price of $40.38.

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Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

Earnings History for Avnet (NYSE:AVT)

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