Avnet (NASDAQ:AVT – Get Free Report) released its earnings results on Wednesday. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01), Briefing.com reports. The firm 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%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. Avnet updated its Q4 guidance to $0.90-1.00 EPS and its Q4 2024 guidance to 0.900-1.000 EPS.
Avnet Price Performance
AVT stock opened at $49.41 on Friday. The company has a market capitalization of $4.46 billion, a P/E ratio of 8.00, a PEG ratio of 0.65 and a beta of 1.21. Avnet has a twelve month low of $40.44 and a twelve month high of $51.65. The business has a 50 day simple moving average of $47.92 and a 200-day simple moving average of $47.40. The company has a current ratio of 2.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48.
Avnet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.31 dividend. 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 currently 20.06%.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Avnet
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.
Further Reading
- Five stocks we like better than Avnet
- High Flyers: 3 Natural Gas Stocks for March 2022
- MarketBeat Week in Review – 4/29 – 5/3
- Health Care Stocks Explained: Why You Might Want to Invest
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.