Avnet (NASDAQ:AVT – Get Free Report) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.90-1.00 for the period, compared to the consensus estimate of $1.12. The company issued revenue guidance of $5.20-5.50 billion, compared to the consensus revenue estimate of $5.74 billion. Avnet also updated its Q4 2024 guidance to 0.900-1.000 EPS.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on AVT shares. The Goldman Sachs Group decreased their target price on Avnet from $48.00 to $42.00 and set a sell rating for the company in a research report on Thursday, February 1st. Truist Financial reduced their price target on Avnet from $49.00 to $48.00 and set a hold rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $45.00.
Check Out Our Latest Research Report on Avnet
Avnet Stock Performance
Avnet (NASDAQ:AVT – Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Avnet had a net margin of 2.31% and a return on equity of 11.64%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. As a group, analysts anticipate that Avnet will post 5.19 EPS for the current year.
Avnet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.51%. Avnet’s dividend payout ratio is presently 20.06%.
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.
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