Avnet (NYSE:AVT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.91-1.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.01. The company issued revenue guidance of $4.65-4.95 billion, compared to the consensus revenue estimate of $4.84 billion.

Shares of NYSE AVT opened at $39.27 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. Avnet has a fifty-two week low of $35.67 and a fifty-two week high of $44.85. The company has a market capitalization of $4,703.06, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.09 and a beta of 0.96.

Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, April 26th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Avnet had a positive return on equity of 8.08% and a negative net margin of 0.72%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts anticipate that Avnet will post 3.48 earnings per share for the current year.

AVT has been the topic of several recent analyst reports. Longbow Research upgraded Avnet from a neutral rating to a buy rating in a report on Friday, January 19th. Zacks Investment Research upgraded Avnet from a hold rating to a buy rating and set a $47.00 price target on the stock in a report on Thursday, April 12th. Pivotal Research initiated coverage on Avnet in a report on Tuesday, February 13th. They issued a hold rating and a $44.00 price target on the stock. ValuEngine downgraded Avnet from a buy rating to a hold rating in a report on Tuesday. Finally, Bank of America upgraded Avnet from an underperform rating to a neutral rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $40.13.

In other Avnet news, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total transaction of $61,452.37. Following the transaction, the insider now directly owns 5,354 shares in the company, valued at approximately $217,747.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $42.00, for a total value of $600,264.00. Following the transaction, the insider now owns 22,178 shares in the company, valued at $931,476. The disclosure for this sale can be found here. Company insiders own 1.65% 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.

Earnings History and Estimates for Avnet (NYSE:AVT)

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