Avnet, Inc. (NASDAQ:AVT) shareholders are probably feeling a little disappointed, since its shares fell 3.5% to US$45.64 in the week after its latest quarterly results. Avnet reported US$6.2b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$1.28 beat expectations, being 3.8% higher than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

View our latest analysis for Avnet

Taking into account the latest results, the current consensus, from the eight analysts covering Avnet, is for revenues of US$24.1b in 2024. This implies a noticeable 6.1% reduction in Avnet's revenue over the past 12 months. Statutory earnings per share are forecast to tumble 25% to US$5.59 in the same period. In the lead-up to this report, the analysts had been modelling revenues of US$24.5b and earnings per share (EPS) of US$5.88 in 2024. The analysts seem to have become a little more negative on the business after the latest results, given the minor downgrade to their earnings per share numbers for next year.

The consensus price target held steady at US$48.07, with the analysts seemingly voting that their lower forecast earnings are not expected to lead to a lower stock price in the foreseeable future. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Avnet, with the most bullish analyst valuing it at US$57.00 and the most bearish at US$40.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that revenue is expected to reverse, with a forecast 12% annualised decline to the end of 2024. That is a notable change from historical growth of 8.5% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 5.0% annually for the foreseeable future. It's pretty clear that Avnet's revenues are expected to perform substantially worse than the wider industry.