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

Avnet (NASDAQ:AVT) announced its quarterly earnings data on Wednesday. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06, Briefing.com reports. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $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 Stock Up 0.6 %

Shares of AVT stock opened at $54.54 on Friday. Avnet has a twelve month low of $42.67 and a twelve month high of $59.24. The stock has a market cap of $4.77 billion, a P/E ratio of 14.28 and a beta of 1.15. The stock has a 50 day moving average of $53.50 and a 200 day moving average of $52.66. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.42%. This is a positive change from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, September 11th. Avnet’s dividend payout ratio (DPR) is 34.56%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AVT shares. Wells Fargo & Company increased their price objective on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Stifel Nicolaus increased their price target on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Truist Financial lifted their price objective on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note 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.