Avnet (NYSE:AVT) Earning Somewhat Positive News Coverage, Report Shows
News coverage about Avnet (NYSE:AVT) has trended somewhat positive this week, according to Accern. The research firm rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Avnet earned a news impact score of 0.24 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 48.5844459358179 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.
These are some of the news articles that may have effected Accern Sentiment’s scoring:
- Avnet, Inc. (NYSE:AVT) Receives Average Rating of “Hold” from Analysts (americanbankingnews.com)
- Q1 2018 EPS Estimates for Avnet, Inc. Decreased by SunTrust Banks (NYSE:AVT) (americanbankingnews.com)
- Avnet, Inc. Plans Quarterly Dividend of $0.18 (AVT) (americanbankingnews.com)
- OSI Systems (OSIS) versus Avnet (AVT) Financial Contrast (americanbankingnews.com)
- See what the IHS Markit Score report has to say about Avnet Inc. (finance.yahoo.com)
Avnet (NYSE AVT) opened at 36.99 on Friday. The company’s 50 day moving average price is $38.79 and its 200 day moving average price is $41.64. The firm has a market capitalization of $4.59 billion, a P/E ratio of 9.05 and a beta of 1.04. Avnet has a 12 month low of $35.96 and a 12 month high of $51.50.
Avnet (NYSE:AVT) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.07. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Avnet had a net margin of 3.00% and a return on equity of 8.87%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Analysts anticipate that Avnet will post $3.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, September 1st. Avnet’s payout ratio is 17.69%.
AVT has been the subject of a number of research reports. Deutsche Bank AG reiterated a “hold” rating and set a $40.00 price target (down from $47.00) on shares of Avnet in a research report on Saturday, April 29th. Longbow Research downgraded shares of Avnet from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. BidaskClub upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Bank of America Corporation downgraded shares of Avnet from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $44.00 to $40.00 in a research report on Friday, July 14th. Finally, SunTrust Banks, Inc. downgraded shares of Avnet from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $39.00 in a research report on Friday, April 28th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.11.
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In other Avnet news, Director James A. Lawrence bought 408,451 shares of Avnet stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $36.99 per share, for a total transaction of $15,108,602.49. Following the completion of the acquisition, the director now owns 416,549 shares of the company’s stock, valued at approximately $15,408,147.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin M. Moriarty bought 6,933 shares of Avnet stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $36.08 per share, with a total value of $250,142.64. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.
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.
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