Equities analysts forecast that Avnet, Inc. (NASDAQ:AVT – Get Rating) will announce $6.24 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Avnet’s earnings, with the lowest sales estimate coming in at $6.20 billion and the highest estimate coming in at $6.31 billion. Avnet posted sales of $5.23 billion during the same quarter last year, which would indicate a positive year over year growth rate of 19.3%. The business is expected to report its next earnings report on Monday, January 1st.
On average, analysts expect that Avnet will report full year sales of $24.18 billion for the current financial year, with estimates ranging from $24.14 billion to $24.25 billion. For the next year, analysts forecast that the business will post sales of $24.61 billion, with estimates ranging from $22.73 billion to $25.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Avnet.
Avnet (NASDAQ:AVT – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a return on equity of 14.40% and a net margin of 2.29%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS.
Avnet stock traded up $1.25 during mid-day trading on Friday, hitting $48.40. 43,895 shares of the company were exchanged, compared to its average volume of 917,249. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.02 and a quick ratio of 1.12. The business’s 50 day simple moving average is $41.69 and its two-hundred day simple moving average is $40.65. The company has a market capitalization of $4.73 billion, a P/E ratio of 9.13, a PEG ratio of 0.18 and a beta of 1.28. Avnet has a 12-month low of $35.71 and a 12-month high of $48.22.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 16th. Investors of record on Wednesday, March 2nd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, March 1st. This is a boost from Avnet’s previous quarterly dividend of $0.24. Avnet’s dividend payout ratio (DPR) is presently 19.66%.
In other news, Director William H. Schumann sold 3,856 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $45.20, for a total transaction of $174,291.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in AVT. Duncker Streett & Co. Inc. acquired a new position in Avnet in the 4th quarter valued at approximately $25,000. Confluence Wealth Services Inc. bought a new position in Avnet during the fourth quarter worth $27,000. Quantbot Technologies LP bought a new position in Avnet during the first quarter worth $38,000. Ellevest Inc. lifted its stake in shares of Avnet by 168.7% in the fourth quarter. Ellevest Inc. now owns 986 shares of the company’s stock valued at $41,000 after buying an additional 619 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Avnet by 163.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,216 shares of the company’s stock valued at $50,000 after buying an additional 755 shares in the last quarter. 96.44% of the stock is owned by institutional investors and hedge funds.
Avnet Company Profile (Get Rating)
Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.
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