U.S. markets closed
  • S&P 500

    4,247.44
    +8.26 (+0.19%)
     
  • Dow 30

    34,479.60
    +13.36 (+0.04%)
     
  • Nasdaq

    14,069.42
    +49.09 (+0.35%)
     
  • Russell 2000

    2,335.81
    +24.40 (+1.06%)
     
  • Crude Oil

    70.78
    +0.49 (+0.70%)
     
  • Gold

    1,879.50
    -16.90 (-0.89%)
     
  • Silver

    28.05
    +0.02 (+0.07%)
     
  • EUR/USD

    1.2107
    -0.0071 (-0.58%)
     
  • 10-Yr Bond

    1.4620
    +0.0030 (+0.21%)
     
  • GBP/USD

    1.4117
    -0.0060 (-0.42%)
     
  • USD/JPY

    109.6350
    +0.2870 (+0.26%)
     
  • BTC-USD

    35,938.70
    -97.86 (-0.27%)
     
  • CMC Crypto 200

    924.19
    -17.62 (-1.87%)
     
  • FTSE 100

    7,134.06
    +45.88 (+0.65%)
     
  • Nikkei 225

    28,948.73
    -9.83 (-0.03%)
     

Avnet (AVT) Outpaces Stock Market Gains: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Avnet (AVT) closed at $43.06 in the latest trading session, marking a +0.81% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.07%.

In that report, analysts expect AVT to post earnings of $0.74 per share. This would mark year-over-year growth of 428.57%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 18.18% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.33 per share and revenue of $19.22 billion. These totals would mark changes of +51.3% and +9.02%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for AVT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.52% higher. AVT currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that AVT has a Forward P/E ratio of 18.35 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.65.

Also, we should mention that AVT has a PEG ratio of 0.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AVT's industry had an average PEG ratio of 0.81 as of yesterday's close.

The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow AVT in the coming trading sessions, be sure to utilize Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Avnet, Inc. (AVT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.