Arrow Electronics, Inc. (ARW) Set to Announce Earnings on Monday
Arrow Electronics, Inc. (NYSE:ARW) is scheduled to release its earnings data on Monday, July 31st. Analysts expect Arrow Electronics to post earnings of $1.76 per share for the quarter. Arrow Electronics has set its Q2 guidance at $1.70-1.82 EPS.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.02. Arrow Electronics had a net margin of 2.20% and a return on equity of 13.59%. The company had revenue of $5.76 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect Arrow Electronics to post $7.12 EPS for the current fiscal year and $7.79 EPS for the next fiscal year.
Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at 82.41 on Monday. The company has a market capitalization of $7.32 billion, a PE ratio of 14.19 and a beta of 1.13. Arrow Electronics, Inc. has a 12-month low of $58.51 and a 12-month high of $82.78. The firm’s 50-day moving average is $78.37 and its 200-day moving average is $74.53.
Several research analysts have recently weighed in on ARW shares. Stifel Nicolaus boosted their price objective on shares of Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.17.
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In related news, insider Sean J. Kerins sold 3,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $75.99, for a total value of $227,970.00. Following the transaction, the insider now owns 21,736 shares in the company, valued at approximately $1,651,718.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gretchen Zech sold 9,781 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $77.34, for a total transaction of $756,462.54. Following the completion of the transaction, the senior vice president now owns 17,186 shares in the company, valued at approximately $1,329,165.24. The disclosure for this sale can be found here. Insiders have sold a total of 28,233 shares of company stock worth $2,148,561 over the last 90 days. 1.20% of the stock is owned by company insiders.
Arrow Electronics Company Profile
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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