Zacks: AVX Co. (AVX) Given Consensus Rating of “Buy” by Brokerages
AVX Co. (NYSE:AVX) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. AVX’s rating score has improved by 33.3% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price target of $18.00 for the company and are forecasting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned AVX an industry rank of 51 out of 255 based on the ratings given to its competitors.
Several brokerages have weighed in on AVX. Zacks Investment Research raised AVX from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine raised AVX from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Stifel Nicolaus boosted their price objective on AVX from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Finally, Citigroup raised AVX from a “neutral” rating to a “buy” rating in a report on Tuesday, July 3rd.
Several hedge funds have recently made changes to their positions in AVX. Millennium Management LLC increased its stake in shares of AVX by 150.8% in the 2nd quarter. Millennium Management LLC now owns 517,169 shares of the electronics maker’s stock valued at $8,104,000 after acquiring an additional 310,997 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AVX by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,342,458 shares of the electronics maker’s stock valued at $88,418,000 after acquiring an additional 239,501 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of AVX by 86.7% in the 2nd quarter. Renaissance Technologies LLC now owns 344,900 shares of the electronics maker’s stock valued at $5,405,000 after acquiring an additional 160,200 shares during the last quarter. BlackRock Inc. increased its stake in shares of AVX by 3.8% in the 1st quarter. BlackRock Inc. now owns 3,391,557 shares of the electronics maker’s stock valued at $56,131,000 after acquiring an additional 124,729 shares during the last quarter. Finally, Regal Investment Advisors LLC bought a new stake in shares of AVX in the 2nd quarter valued at about $1,578,000. 24.50% of the stock is owned by institutional investors.
Shares of NYSE:AVX traded up $0.07 on Monday, hitting $19.58. The stock had a trading volume of 400,100 shares, compared to its average volume of 279,171. AVX has a twelve month low of $14.51 and a twelve month high of $21.48. The company has a market capitalization of $3.29 billion, a PE ratio of 24.48 and a beta of 1.04.
AVX (NYSE:AVX) last announced its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.15. The firm had revenue of $454.12 million during the quarter, compared to analysts’ expectations of $412.40 million. AVX had a return on equity of 7.12% and a net margin of 1.74%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. equities research analysts predict that AVX will post 1.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $0.46 annualized dividend and a yield of 2.35%. AVX’s dividend payout ratio is currently 57.50%.
AVX Company Profile
AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.
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