Somewhat Positive Press Coverage Somewhat Unlikely to Impact Avnet (AVT) Share Price
Media stories about Avnet (NYSE:AVT) have been trending somewhat positive on Friday, Accern reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Avnet earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 49.0470376290295 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news articles that may have effected Accern Sentiment’s rankings:
- Avnet (AVT) Raises Quarterly Dividend 5.3% to $0.20; Approves $500M Buyback (streetinsider.com)
- Avnet expands share repurchase authorization by $500M (seekingalpha.com)
- Avnet (AVT) Increases Dividend to $0.20 Per Share (americanbankingnews.com)
- Avnet Expands Share Repurchase Authorization by $500 Million; Increases Dividend by 5.3% to $0.20 per Share (finance.yahoo.com)
- Avnet boosts buybacks by $500 million, lifts dividend (finance.yahoo.com)
A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Avnet from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Avnet from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, June 27th. Pivotal Research reiterated a “buy” rating and set a $50.00 price objective on shares of Avnet in a research note on Friday, June 22nd. Bank of America upgraded Avnet from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $55.00 in a research note on Friday, August 10th. Finally, Wells Fargo & Co assumed coverage on Avnet in a research note on Tuesday, July 17th. They set a “market perform” rating and a $47.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.14.
Avnet (NYSE:AVT) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Avnet had a positive return on equity of 8.08% and a negative net margin of 0.72%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. equities analysts expect that Avnet will post 3.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Monday, September 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, September 7th. This is a boost from Avnet’s previous quarterly dividend of $0.19. Avnet’s dividend payout ratio is 23.46%.
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.
Recommended Story: Diversification in Your Portfolio
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.