Avnet, Inc. (NASDAQ:AVT) Announces $0.35 Quarterly Dividend
Avnet, Inc. (NASDAQ:AVT) announced a quarterly dividend of $0.35 per share, payable on December 17th to shareholders of record on December 3rd. The dividend yield is 3.1%, with a payout ratio of 27.8%. Avnet has consistently increased its dividend for 12 years. Analysts expect Avnet to earn $5.67 per share next year, maintaining a payout ratio of 24.7%. The stock has a market cap of $3.69 billion and trades at a P/E ratio of 16.85. Analysts have given Avnet a "Reduce" rating with a consensus target price of $49.33.
Avnet, Inc. (NASDAQ:AVT - Get Free Report) announced a quarterly dividend on Thursday, November 20th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of 0.35 per share on Wednesday, December 17th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, December 3rd.
Avnet has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Avnet has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avnet to earn $5.67 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 24.7%.
Avnet Trading Up 2.2%
Avnet stock opened at $45.36 on Friday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 0.36 and a beta of 1.05. The firm has a 50-day moving average of $50.32 and a 200-day moving average of $51.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.36 and a quick ratio of 1.16. Avnet has a one year low of $39.22 and a one year high of $57.24.
Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results on Wednesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Avnet had a return on equity of 5.91% and a net margin of 1.04%.The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. Avnet's revenue was up 5.3% on a year-over-year basis. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. On average, equities analysts expect that Avnet will post 3.41 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on AVT. Zacks Research upgraded shares of Avnet from a "strong sell" rating to a "hold" rating in a research note on Monday, October 20th. Bank of America lifted their target price on Avnet from $48.00 to $50.00 and gave the stock an "underperform" rating in a research note on Monday, August 11th. Truist Financial raised their price target on Avnet from $54.00 to $55.00 and gave the company a "hold" rating in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Avnet in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Avnet presently has an average rating of "Reduce" and a consensus target price of $49.33.
Check Out Our Latest Report on AVT
About Avnet
(Get Free Report)Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.
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