Avnet (NASDAQ:AVT – Get Free Report) 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 Stock Up 1.6 %
NASDAQ AVT traded up $0.77 on Friday, hitting $49.41. The stock had a trading volume of 746,177 shares, compared to its average volume of 581,849. The business’s fifty day moving average price is $47.92 and its 200 day moving average price is $47.40. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05. Avnet has a 52-week low of $40.44 and a 52-week high of $51.65.
Avnet (NASDAQ:AVT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. Avnet’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. Equities research analysts anticipate that Avnet will post 5.19 earnings per share for the current year.
Avnet Announces Dividend
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Avnet from $49.00 to $48.00 and set a hold rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their target price on shares of Avnet from $48.00 to $42.00 and set a sell rating for the company in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Avnet currently has a consensus rating of Hold and a consensus target price of $45.00.
Check Out Our Latest Analysis on AVT
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.
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