Avnet (AVT) Earning Somewhat Favorable Press Coverage, Analysis Shows

Headlines about Avnet (NYSE:AVT) have trended somewhat positive on Friday, according to Alpha One Sentiment. Alpha One, a service of Accern, identifies positive and negative press coverage by analyzing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Avnet earned a news impact score of 0.12 on Alpha One’s scale. Alpha One also gave news articles about the technology company an impact score of 86 out of 100, indicating that recent press coverage is very likely to have an impact on the company’s share price in the next few days.

These are some of the media stories that may have effected Alpha One Sentiment’s scoring:

A number of brokerages have recently issued reports on AVT. Brean Capital reiterated a “hold” rating on shares of Avnet in a research report on Tuesday, January 3rd. Zacks Investment Research upgraded Avnet from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Finally, Goldman Sachs Group Inc lowered Avnet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $47.00 to $43.00 in a report on Wednesday, March 1st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Avnet presently has an average rating of “Hold” and an average target price of $44.17.

Avnet (NYSE:AVT) traded down 0.38% during trading on Friday, reaching $44.47. The company’s stock had a trading volume of 35,501 shares. The company’s 50-day moving average is $45.00 and its 200-day moving average is $45.33. Avnet has a 1-year low of $38.16 and a 1-year high of $51.50. The company has a market capitalization of $5.73 billion, a P/E ratio of 14.82 and a beta of 1.16.

Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, January 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Avnet had a return on equity of 9.80% and a net margin of 1.88%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Avnet will post $3.31 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.61%. This is a positive change from Avnet’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 10th. Avnet’s payout ratio is currently 22.59%.

In related news, insider Maryann G. Miller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $47.00, for a total transaction of $235,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.47% of the company’s stock.

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Avnet Company Profile

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.

5 Day Chart for NYSE:AVT

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