Wall Street brokerages expect Avnet (NYSE:AVT) to announce $1.03 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Avnet’s earnings, with the lowest EPS estimate coming in at $1.00 and the highest estimate coming in at $1.05. Avnet reported earnings of $0.78 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 32.1%. The business is expected to announce its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Avnet will report full-year earnings of $4.26 per share for the current year, with EPS estimates ranging from $4.05 to $4.49. For the next financial year, analysts forecast that the firm will report earnings of $4.53 per share, with EPS estimates ranging from $4.35 to $4.90. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Avnet.

Avnet (NYSE:AVT) last announced its earnings results on Thursday, October 25th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.03 billion.

A number of equities analysts recently issued reports on AVT shares. TheStreet lowered shares of Avnet from a “b” rating to a “c” rating in a research report on Wednesday, October 10th. Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Citigroup upgraded shares of Avnet from a “sell” rating to a “neutral” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.67.

AVT traded up $0.45 on Tuesday, reaching $41.12. The company had a trading volume of 388,501 shares, compared to its average volume of 1,141,557. Avnet has a one year low of $33.55 and a one year high of $49.40.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.95%.

In other Avnet news, insider Philip R. Gallagher sold 24,068 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $43.18, for a total value of $1,039,256.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.65% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in shares of Avnet in the third quarter worth about $475,000. California Public Employees Retirement System lifted its position in shares of Avnet by 2.0% in the second quarter. California Public Employees Retirement System now owns 414,003 shares of the technology company’s stock worth $17,757,000 after purchasing an additional 8,187 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Avnet by 2.8% in 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 in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Avnet in the second quarter worth approximately $2,221,000. Finally, Vanguard Group Inc lifted its position in shares of Avnet by 2.8% in 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 in the last quarter. Institutional investors own 96.44% of the company’s stock.

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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