* Avnet Inc reported quarterly adjusted earnings of 92 cents per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of $1.61. The mean expectation of seven analysts for the quarter was for earnings of 86 cents per share. Wall Street expected results to range from 85 cents to 89 cents per share.
* Revenue fell 11.5% to $5.60 billion from a year ago; analysts expected $5.43 billion.
* Avnet Inc's reported EPS for the quarter was 66 cents.
* The company reported quarterly net income of $58.96 million.
* Avnet Inc shares had risen by 0.3% this quarter and gained 8.1% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 11.8% in the last three months.
* In the last 30 days, there have been no negative revisions of earnings estimates
RECOMMENDATIONS
* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 5 "hold" and 2 "sell" or "strong sell."
* The average consensus recommendation for the electronic equipment & parts peer group is also "hold"
Wall Street's median 12-month price target for Avnet Inc is 53.50 This summary was machine generated from LSEG data October 30 at 03:13 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Sep. 30 2024 0.86 0.92 Beat
Jun. 30 2024 0.95 1.22 Beat
Mar. 31 2024 1.11 1.10 Missed
Dec. 31 2023 1.40 1.40 Met
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