Brokerages expect that Avnet (NYSE:AVT) will post sales of $5.03 billion for the current quarter, according to Zacks. Four analysts have made estimates for Avnet’s earnings, with estimates ranging from $4.95 billion to $5.11 billion. Avnet posted sales of $4.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The business is expected to issue its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Avnet will report full-year sales of $19.85 billion for the current year, with estimates ranging from $19.11 billion to $20.30 billion. For the next financial year, analysts forecast that the business will post sales of $20.02 billion per share, with estimates ranging from $19.12 billion to $20.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Avnet.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Avnet had a positive return on equity of 8.08% and a negative net margin of 0.72%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

AVT has been the topic of a number of research analyst reports. TheStreet upgraded Avnet from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Avnet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, June 27th. Pivotal Research restated a “buy” rating and issued a $50.00 price target on shares of Avnet in a research note on Friday, June 22nd. Bank of America upgraded Avnet from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a research note on Friday, August 10th. Finally, Wells Fargo & Co initiated coverage on Avnet in a research note on Tuesday, July 17th. They issued a “market perform” rating and a $47.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.14.

AVT opened at $47.11 on Friday. Avnet has a 1-year low of $38.12 and a 1-year high of $49.40. The company has a current ratio of 2.75, a quick ratio of 1.58 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.63 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Monday, September 10th were given a dividend of $0.20 per share. This is a boost from Avnet’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.80 annualized dividend and a yield of 1.70%. Avnet’s dividend payout ratio (DPR) is presently 24.69%.

Avnet declared that its board has authorized a stock repurchase program on Wednesday, August 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other Avnet news, insider Maryann G. Miller sold 15,024 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $47.99, for a total transaction of $721,001.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.65% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. CIBC World Markets Inc. bought a new position in Avnet during the 2nd quarter worth $201,000. Jane Street Group LLC bought a new position in Avnet during the 2nd quarter worth $210,000. Foster & Motley Inc. acquired a new stake in shares of Avnet during the 2nd quarter worth $226,000. IFM Investors Pty Ltd acquired a new stake in shares of Avnet during the 2nd quarter worth $266,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Avnet during the 1st quarter worth $295,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.

About Avnet

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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