Wall Street analysts expect that Avnet (NYSE:AVT) will post earnings of $1.08 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avnet’s earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.10. Avnet reported earnings per share of $1.02 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The business is expected to issue its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Avnet will report full year earnings of $4.23 per share for the current fiscal year, with EPS estimates ranging from $4.14 to $4.36. For the next fiscal year, analysts anticipate that the business will report earnings of $4.60 per share, with EPS estimates ranging from $4.23 to $5.01. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Avnet.

Avnet (NYSE:AVT) last announced its earnings results on Thursday, January 24th. The technology company reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. The business had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.07 billion. Avnet’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS.

Separately, Zacks Investment Research downgraded Avnet from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Avnet currently has a consensus rating of “Hold” and an average price target of $45.17.

Institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Avnet by 2,437.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,741,897 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,673,236 shares during the last quarter. Norges Bank acquired a new position in shares of Avnet in the fourth quarter valued at approximately $46,361,000. Prudential Financial Inc. grew its position in shares of Avnet by 28.9% in the fourth quarter. Prudential Financial Inc. now owns 1,639,635 shares of the technology company’s stock valued at $59,191,000 after purchasing an additional 367,914 shares during the last quarter. LSV Asset Management increased its stake in shares of Avnet by 20.1% during the fourth quarter. LSV Asset Management now owns 2,194,268 shares of the technology company’s stock worth $79,213,000 after purchasing an additional 367,093 shares during the period. Finally, Vanguard Group Inc increased its stake in shares of Avnet by 2.8% during the third quarter. Vanguard Group Inc now owns 11,420,607 shares of the technology company’s stock worth $511,300,000 after purchasing an additional 315,288 shares during the period. Institutional investors own 96.44% of the company’s stock.

AVT stock traded down $0.70 during mid-day trading on Tuesday, reaching $45.54. 368,815 shares of the stock traded hands, compared to its average volume of 786,213. Avnet has a 52-week low of $33.55 and a 52-week high of $49.40.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.80 annualized dividend and a yield of 1.76%.

Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Earnings History and Estimates for Avnet (NYSE:AVT)

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