Avnet, Inc. (NASDAQ:AVT) Plans Quarterly Dividend of $0.33

by · The Cerbat Gem

Avnet, Inc. (NASDAQ:AVT – Get Free Report) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.33 per share on Wednesday, March 19th. This represents a $1.32 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, March 5th.

Avnet has increased its dividend payment by an average of 12.0% per year over the last three years and has raised its dividend every year for the last 12 years. Avnet has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Avnet to earn $5.67 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 23.3%.

Avnet Stock Down 1.2 %

Avnet stock traded down $0.64 on Friday, hitting $51.87. 335,930 shares of the stock traded hands, compared to its average volume of 670,633. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.49 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.13. The business’s fifty day simple moving average is $52.24 and its 200 day simple moving average is $53.24. Avnet has a 1 year low of $45.45 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, sell-side analysts forecast that Avnet will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVT. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial reduced their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

View Our Latest Analysis on Avnet

Avnet Company Profile

(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.

See Also