Avnet, Inc. (NYSE:AVT) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.10-3.60 for the period, compared to the Thomson Reuters consensus estimate of $3.28. The company issued revenue guidance of $18.1-18.5 billion, compared to the consensus revenue estimate of $17.58 billion.Avnet also updated its Q2 guidance to $0.67-0.77 EPS.
A number of research analysts recently issued reports on the stock. TheStreet downgraded shares of Avnet from a b rating to a c rating in a research report on Thursday, October 26th. Deutsche Bank AG restated a hold rating and set a $39.00 price target (down previously from $40.00) on shares of Avnet in a research note on Thursday, August 10th. BidaskClub lowered shares of Avnet from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Cross Research upgraded shares of Avnet from a sell rating to a hold rating in a research note on Friday, October 27th. Finally, Citigroup Inc. upped their target price on shares of Avnet from $31.00 to $34.00 and gave the stock a sell rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $40.29.
Shares of Avnet, Inc. (AVT) traded up $0.12 on Friday, reaching $39.56. 859,290 shares of the company were exchanged, compared to its average volume of 894,745. Avnet, Inc. has a 1-year low of $35.67 and a 1-year high of $51.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63. The stock has a market capitalization of $4,769.38, a P/E ratio of 12.14, a P/E/G ratio of 1.29 and a beta of 1.08.
Avnet (NYSE:AVT) last issued its earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. research analysts anticipate that Avnet, Inc. will post 3.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Wednesday, December 6th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. Avnet’s payout ratio is 17.96%.
In other Avnet news, Director J Veronica Biggins sold 10,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.10, for a total transaction of $393,260.00. Following the completion of the transaction, the director now owns 12,191 shares of the company’s stock, valued at $452,286.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.65% 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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