Avnet (AVT) Earning Somewhat Positive Press Coverage, Report Shows

Media stories about Avnet (NYSE:AVT) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Avnet earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 46.2235743322352 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

AVT has been the subject of several recent analyst reports. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Pivotal Research assumed coverage on Avnet in a report on Tuesday, February 13th. They set a “hold” rating and a $44.00 price objective on the stock. Zacks Investment Research cut Avnet from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Goldman Sachs raised Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective on the stock in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Avnet presently has an average rating of “Hold” and a consensus target price of $40.13.

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Shares of AVT traded down $1.32 during mid-day trading on Friday, hitting $40.34. 531,632 shares of the stock were exchanged, compared to its average volume of 631,012. The stock has a market capitalization of $4,838.58, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. Avnet has a 52-week low of $35.67 and a 52-week high of $45.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.75 and a quick ratio of 1.56.

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, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Avnet had a return on equity of 7.87% and a net margin of 2.51%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. sell-side analysts expect that Avnet will post 3.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.88%. This is a boost from Avnet’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 12th. Avnet’s dividend payout ratio is 23.46%.

In related news, insider Kevin V. Summers sold 1,511 shares of the 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 sale, the insider now owns 5,354 shares in the company, valued at approximately $217,747.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip R. Gallagher sold 14,292 shares of the 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 sale, the insider now owns 22,178 shares in the company, valued at approximately $931,476. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

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Avnet Company Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Insider Buying and Selling by Quarter for Avnet (NYSE:AVT)

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