Avnet (AVT) Earning Somewhat Favorable News Coverage, Analysis Finds
Media coverage about Avnet (NYSE:AVT) has trended somewhat positive on Saturday, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of 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 0.12 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 45.563239555537 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news headlines that may have impacted Accern’s scoring:
- Avnet Inc.: Avnet Schedules Second Quarter Fiscal Year 2018 Earnings Announcement (twst.com)
- Avnet Announces Upgraded IoT Starter Kit (finance.yahoo.com)
- Avnet to Demonstrate Vertical-Specific IoT Solutions at CES (finance.yahoo.com)
- Avnet (AVT) Rating Increased to Neutral at Goldman Sachs Group (americanbankingnews.com)
AVT has been the subject of several research reports. TheStreet cut Avnet from a “b” rating to a “c” rating in a research note on Thursday, October 26th. Citigroup lifted their target price on Avnet from $31.00 to $34.00 and gave the company a “sell” rating in a research note on Friday, October 27th. Cross Research raised Avnet from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. ValuEngine raised Avnet from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised Avnet from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.57.
Shares of Avnet (AVT) opened at $41.75 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 2.78. Avnet has a 52 week low of $35.67 and a 52 week high of $48.20. The company has a market capitalization of $5,050.00, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.37 and a beta of 1.09.
Avnet (NYSE:AVT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. analysts anticipate that Avnet will post 3.36 EPS for the current year.
Avnet announced that its Board of Directors has approved a share repurchase program on Friday, November 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Wednesday, December 6th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. Avnet’s dividend payout ratio (DPR) is presently 36.00%.
In related news, CEO Amelio J. William acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average cost of $39.16 per share, with a total value of $117,480.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.65% of the stock is owned by insiders.
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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.
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