Avnet, Inc. (AVT) To Go Ex-Dividend on March 5th

Avnet, Inc. (NASDAQ:AVT) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 5th.

Avnet has increased its dividend payment by an average of 12.0% annually over the last three years and has raised its dividend every year for the last 12 years. Avnet has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of AVT stock opened at $51.85 on Friday. The business’s 50-day moving average price is $52.20 and its 200-day moving average price is $53.27. Avnet has a 12 month low of $45.45 and a 12 month high of $59.24. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.15 and a beta of 1.13. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Equities research analysts forecast that Avnet will post 3.41 EPS for the current year.

Wall Street Analysts Forecast Growth

AVT has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

About Avnet

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.