Avnet (NASDAQ:AVT) Issues Earnings Results

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

Avnet Price Performance

NASDAQ:AVT opened at $54.54 on Friday. Avnet has a one year low of $42.67 and a one year high of $59.24. The stock has a market cap of $4.77 billion, a PE ratio of 14.28 and a beta of 1.15. 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 stock has a 50 day moving average price of $53.50 and a 200 day moving average price of $52.66.

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 given a $0.33 dividend. The ex-dividend date was Wednesday, September 11th. This is a positive change from Avnet’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. Avnet’s dividend payout ratio is 34.56%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AVT shares. Stifel Nicolaus lifted their price objective on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company raised their target price on Avnet from $40.00 to $45.00 and gave the company an “underweight” 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 company a “hold” rating in a research note on Friday, August 9th.

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.