Avnet Inc (NASDAQ: AVT) has reported E.P.S. of $0.98 for its third fiscal quarter (ending March 31) versus $2.05 for the same period a year ago — a decline of -52%. This result fell short of the consensus estimate of $1.59 by $-0.61. For the latest four quarters through March 31, E.P.S. were $6.29 compared to $9.21 a year ago — a decline of -32%.
Recent Price Action
On 5/1/24, Avnet Inc (NASDAQ: AVT) stock declined modestly by -1.6%, closing at $48.07. Moreover, trading volume in this decline was exceptionally high at 202% of normal. The stock has performed in line with the market over the last nine months and has declined -0.8% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, AVT is expected to continue to be a Value Builder.
Avnet has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Avnet has a very high Appreciation Score of 90 but a poor Power Rating of 30, leading to the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment