Avnet (NASDAQ:AVT) Issues Q4 2024 Earnings Guidance

Avnet (NASDAQ:AVT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.900-1.000 for the period, compared to the consensus earnings per share estimate of 1.120. The company issued revenue guidance of $5.2 billion-$5.5 billion, compared to the consensus revenue estimate of $5.7 billion. Avnet also updated its Q4 guidance to $0.90-1.00 EPS.

Avnet Trading Up 1.6 %

Shares of AVT stock traded up $0.77 on Friday, reaching $49.41. 746,177 shares of the stock were exchanged, compared to its average volume of 581,849. The stock has a 50 day moving average price of $47.92 and a 200 day moving average price of $47.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05. The stock has a market cap of $4.46 billion, a PE ratio of 8.00, a P/E/G ratio of 0.65 and a beta of 1.21. Avnet has a one year low of $40.44 and a one year high of $51.65.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. Avnet had a net margin of 2.31% and a return on equity of 11.64%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the business posted $2.00 EPS. Equities research analysts forecast that Avnet will post 5.19 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s payout ratio is 20.06%.

Analyst Ratings Changes

A number of brokerages recently commented on AVT. The Goldman Sachs Group decreased their price objective on Avnet from $48.00 to $42.00 and set a sell rating for the company in a research note on Thursday, February 1st. Truist Financial decreased their target price on Avnet from $49.00 to $48.00 and set a hold rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $45.00.

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.