Wall Street analysts expect Avnet (NYSE:AVT) to announce earnings of $1.00 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Avnet’s earnings, with the highest EPS estimate coming in at $1.04 and the lowest estimate coming in at $0.97. Avnet reported earnings per share of $0.76 during the same quarter last year, which suggests a positive year over year growth rate of 31.6%. The company is scheduled to report its next earnings report on Thursday, October 25th.

On average, analysts expect that Avnet will report full year earnings of $4.20 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.26. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.53 per share, with EPS estimates ranging from $4.27 to $5.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Avnet.

Avnet (NYSE:AVT) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.01. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.85 billion. Avnet had a negative net margin of 0.72% and a positive return on equity of 8.08%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share.

AVT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Avnet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Wednesday, June 27th. Citigroup increased their price target on shares of Avnet from $37.00 to $39.00 and gave the stock a “sell” rating in a report on Thursday, August 9th. Wells Fargo & Co initiated coverage on shares of Avnet in a report on Tuesday, July 17th. They set a “market perform” rating and a $47.00 price target on the stock. Bank of America raised shares of Avnet from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $55.00 in a report on Friday, August 10th. Finally, Goldman Sachs Group downgraded shares of Avnet from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a report on Wednesday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Avnet has a consensus rating of “Hold” and an average price target of $45.14.

Shares of NYSE:AVT traded down $0.29 during midday trading on Friday, reaching $47.66. The company’s stock had a trading volume of 22,924 shares, compared to its average volume of 918,271. Avnet has a twelve month low of $36.46 and a twelve month high of $49.40. The firm has a market capitalization of $4.63 billion, a P/E ratio of 14.70, a PEG ratio of 1.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.58.

Avnet announced that its Board of Directors has initiated a share buyback program on Wednesday, August 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Monday, September 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 7th. This is an increase from Avnet’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. Avnet’s dividend payout ratio is 23.46%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its holdings in Avnet by 2,956.0% during the first quarter. Boston Partners now owns 5,691,279 shares of the technology company’s stock valued at $237,668,000 after purchasing an additional 5,505,045 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Avnet by 42.1% during the second quarter. Janus Henderson Group PLC now owns 2,987,471 shares of the technology company’s stock valued at $128,133,000 after purchasing an additional 885,004 shares in the last quarter. American Century Companies Inc. lifted its holdings in Avnet by 248.5% during the first quarter. American Century Companies Inc. now owns 724,253 shares of the technology company’s stock valued at $30,245,000 after purchasing an additional 516,457 shares in the last quarter. FMR LLC lifted its holdings in Avnet by 9.6% during the second quarter. FMR LLC now owns 2,897,287 shares of the technology company’s stock valued at $124,265,000 after purchasing an additional 254,220 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in Avnet by 390.1% during the first quarter. State of Tennessee Treasury Department now owns 238,700 shares of the technology company’s stock valued at $9,968,000 after purchasing an additional 190,000 shares in the last quarter. 96.44% of the stock is currently owned by hedge funds and other institutional investors.

About Avnet

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Earnings History and Estimates for Avnet (NYSE:AVT)

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