Avnet (NASDAQ:AVT) Releases Q4 Earnings Guidance

Avnet (NASDAQ:AVT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.90-1.00 for the period, compared to the consensus earnings per share estimate of $1.12. The company issued revenue guidance of $5.20-5.50 billion, compared to the consensus revenue estimate of $5.74 billion. Avnet also updated its Q4 2024 guidance to 0.900-1.000 EPS.

Avnet Trading Up 1.6 %

AVT opened at $49.41 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05. Avnet has a fifty-two week low of $40.44 and a fifty-two week high of $51.65. The firm has a market capitalization of $4.46 billion, a PE ratio of 8.00, a P/E/G ratio of 0.65 and a beta of 1.21. The company’s 50-day moving average is $47.92 and its 200 day moving average is $47.40.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a net margin of 2.31% and a return on equity of 11.64%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. As a group, research analysts predict that Avnet will post 5.19 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio is currently 20.06%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Avnet from $48.00 to $42.00 and set a sell rating for the company in a report on Thursday, February 1st. Truist Financial cut their price objective on shares of Avnet from $49.00 to $48.00 and set a hold rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $45.00.

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.