Avnet (NASDAQ:AVT) Announces Earnings Results, Beats Expectations By $0.06 EPS

Avnet (NASDAQ:AVT) posted its quarterly earnings data on Wednesday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06, Briefing.com reports. Avnet had a return on equity of 9.92% and a net margin of 2.10%. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. Avnet updated its Q2 guidance to $0.80-0.90 EPS and its Q2 2025 guidance to 0.800-0.900 EPS.

Avnet Trading Up 5.9 %

Shares of Avnet stock traded up $3.23 during trading hours on Wednesday, hitting $57.69. The company’s stock had a trading volume of 1,728,414 shares, compared to its average volume of 595,358. The business has a fifty day moving average of $53.47 and a 200 day moving average of $52.56. Avnet has a 1-year low of $42.67 and a 1-year high of $59.24. The company has a quick ratio of 1.10, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $5.04 billion, a PE ratio of 10.77 and a beta of 1.15.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.29%. This is a boost from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, September 11th. Avnet’s payout ratio is 24.40%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVT. Wells Fargo & Company boosted their target price on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price objective on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Truist Financial increased their target price 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.