Avnet (NASDAQ:AVT) Releases Q4 Earnings Guidance

Avnet (NASDAQ:AVT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.90-1.00 for the period, compared to the consensus estimate of $1.12. The company issued revenue guidance of $5.20-5.50 billion, compared to the consensus revenue estimate of $5.74 billion. Avnet also updated its Q4 2024 guidance to 0.900-1.000 EPS.

Avnet Stock Performance

Shares of AVT stock opened at $49.41 on Friday. The stock has a market cap of $4.46 billion, a PE ratio of 8.00, a P/E/G ratio of 0.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 2.33. Avnet has a 1 year low of $40.44 and a 1 year high of $51.65. The stock has a fifty day moving average price of $47.92 and a 200 day moving average price of $47.40.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a net margin of 2.31% and a return on equity of 11.64%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 earnings per share. Sell-side analysts forecast that Avnet will post 5.19 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.51%. Avnet’s dividend payout ratio (DPR) is 20.06%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AVT shares. Truist Financial decreased their target price on shares of Avnet from $49.00 to $48.00 and set a hold rating on the stock in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of Avnet from $48.00 to $42.00 and set a sell rating on the stock in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $45.00.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.