Wall Street analysts forecast that Avnet (NYSE:AVT) will report earnings per share of $0.96 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Avnet’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.95. Avnet posted earnings per share of $0.88 in the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The firm is expected to report its next earnings results on Thursday, April 26th.
On average, analysts expect that Avnet will report full year earnings of $3.47 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.51. For the next fiscal year, analysts anticipate that the company will post earnings of $4.02 per share, with EPS estimates ranging from $3.75 to $4.39. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Avnet.
Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.46 billion. Avnet had a return on equity of 7.87% and a net margin of 2.51%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share.
Shares of Avnet (NYSE AVT) traded down $1.12 during trading hours on Wednesday, hitting $43.59. The stock had a trading volume of 405,116 shares, compared to its average volume of 970,220. The firm has a market capitalization of $5,362.75, a P/E ratio of 12.39, a P/E/G ratio of 1.43 and a beta of 0.97. Avnet has a 12 month low of $35.67 and a 12 month high of $46.08. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 12th. This is an increase from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.74%. Avnet’s dividend payout ratio (DPR) is 21.05%.
In related news, insider Philip R. Gallagher sold 14,292 shares of Avnet stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $42.00, for a total transaction of $600,264.00. Following the sale, the insider now directly owns 22,178 shares of the company’s stock, valued at $931,476. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kevin V. Summers sold 1,511 shares of Avnet stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total value of $61,452.37. Following the sale, the insider now directly owns 5,354 shares in the company, valued at $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Avnet by 39.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,680 shares of the technology company’s stock valued at $2,681,000 after purchasing an additional 18,988 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Avnet by 68.1% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,900 shares of the technology company’s stock valued at $313,000 after purchasing an additional 3,200 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Avnet during the fourth quarter valued at approximately $3,031,000. Glenmede Trust Co. NA boosted its holdings in Avnet by 13.6% during the fourth quarter. Glenmede Trust Co. NA now owns 14,449 shares of the technology company’s stock valued at $571,000 after purchasing an additional 1,727 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Avnet by 11.3% during the fourth quarter. Jane Street Group LLC now owns 12,428 shares of the technology company’s stock valued at $492,000 after purchasing an additional 1,262 shares in the last quarter. 96.44% of the stock is currently owned by institutional investors.
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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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