Avnet (AVT) Receives News Impact Score of 0.13
Press coverage about Avnet (NYSE:AVT) has been trending somewhat positive on Friday, according to Accern. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Avnet earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 44.4086103078164 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Avnet Sponsors The Not Impossible Awards Recognizing Emerging Technologies that Improve Lives (finance.yahoo.com)
- Avnet (AVT) Announces Comprehensive Range of IoT Services (nasdaq.com)
- Avnet, Inc. (AVT) CEO Acquires $117,480.00 in Stock (americanbankingnews.com)
- ETFs with exposure to Avnet, Inc. : December 12, 2017 (finance.yahoo.com)
- Avnet Announces New IoT Services (finance.yahoo.com)
A number of equities research analysts have weighed in on AVT shares. TheStreet raised Avnet from a “c” rating to a “b-” rating in a report on Friday, November 10th. ValuEngine raised Avnet from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised Avnet from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, October 10th. Stifel Nicolaus lifted their price objective on Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Cross Research raised Avnet from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.29.
Shares of Avnet (AVT) traded up $0.39 on Friday, hitting $39.06. The stock had a trading volume of 2,037,400 shares, compared to its average volume of 1,103,419. The firm has a market cap of $4,786.31, a P/E ratio of 12.18, a P/E/G ratio of 1.29 and a beta of 1.09. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.29. Avnet has a fifty-two week low of $35.67 and a fifty-two week high of $49.19.
Avnet (NYSE:AVT) last announced its earnings results on Thursday, October 26th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.34 billion. Avnet had a return on equity of 8.20% and a net margin of 2.86%. Avnet’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. sell-side analysts anticipate that Avnet will post 3.36 EPS for the current fiscal year.
Avnet declared that its Board of Directors has approved a stock repurchase program on Friday, November 10th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, December 6th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, December 5th. Avnet’s payout ratio is currently 17.96%.
In other Avnet news, CEO Amelio J. William bought 3,000 shares of Avnet stock in a transaction dated Friday, December 8th. The shares were acquired at an average cost of $39.16 per share, with a total value of $117,480.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.65% of the stock is owned by insiders.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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