Avnet (NASDAQ:AVT) Releases Earnings Results

Avnet (NASDAQ:AVT) posted its quarterly earnings results on Wednesday. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06, Briefing.com reports. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm earned $1.61 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. Avnet updated its Q2 guidance to $0.80-0.90 EPS and its Q2 2025 guidance to 0.800-0.900 EPS.

Avnet Stock Performance

Shares of AVT stock opened at $54.21 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.10 and a current ratio of 2.25. The firm has a market cap of $4.74 billion, a P/E ratio of 14.19 and a beta of 1.15. The firm’s 50 day moving average price is $53.51 and its 200-day moving average price is $52.61. Avnet has a one year low of $42.67 and a one year high of $59.24.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, September 11th. Avnet’s payout ratio is 34.56%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price target on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Truist Financial increased their price objective on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 9th.

Avnet Company Profile

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.