Arrow Electronics, Inc. (NYSE:ARW) Expected to Earn FY2017 Earnings of $7.30 Per Share
Arrow Electronics, Inc. (NYSE:ARW) – Analysts at SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for shares of Arrow Electronics in a research report issued on Thursday. SunTrust Banks analyst W. Stein now anticipates that the technology company will post earnings per share of $7.30 for the year, up from their prior estimate of $7.02. SunTrust Banks also issued estimates for Arrow Electronics’ Q4 2017 earnings at $2.26 EPS, Q2 2018 earnings at $1.99 EPS, Q3 2018 earnings at $1.94 EPS, Q4 2018 earnings at $2.41 EPS and FY2018 earnings at $8.04 EPS.
Several other analysts have also recently issued reports on ARW. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Tuesday, April 11th. Stifel Nicolaus raised their price objective on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, BidaskClub cut Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.40.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/07/arrow-electronics-inc-nysearw-expected-to-earn-fy2017-earnings-of-7-30-per-share.html.
Arrow Electronics (NYSE:ARW) opened at 79.81 on Monday. The stock’s 50 day moving average price is $79.76 and its 200-day moving average price is $75.11. Arrow Electronics has a 12 month low of $58.51 and a 12 month high of $84.53. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 13.75 and a beta of 1.13.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. Arrow Electronics’s revenue for the quarter was up 8.3% on a year-over-year basis.
In other news, SVP Gretchen Zech sold 9,781 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $77.34, for a total value of $756,462.54. Following the completion of the sale, the senior vice president now owns 17,186 shares of the company’s stock, valued at approximately $1,329,165.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Catherine Morris sold 9,692 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $75.07, for a total value of $727,578.44. Following the completion of the sale, the insider now directly owns 21,570 shares of the company’s stock, valued at approximately $1,619,259.90. The disclosure for this sale can be found here. Insiders sold a total of 28,233 shares of company stock valued at $2,148,561 in the last three months. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Reilly Financial Advisors LLC boosted its stake in Arrow Electronics by 3.6% in the first quarter. Reilly Financial Advisors LLC now owns 112,584 shares of the technology company’s stock worth $8,265,000 after buying an additional 3,865 shares during the last quarter. Regentatlantic Capital LLC boosted its stake in Arrow Electronics by 5.3% in the first quarter. Regentatlantic Capital LLC now owns 42,843 shares of the technology company’s stock worth $3,145,000 after buying an additional 2,144 shares during the last quarter. Morgan Stanley boosted its stake in Arrow Electronics by 97.5% in the first quarter. Morgan Stanley now owns 441,079 shares of the technology company’s stock worth $32,380,000 after buying an additional 217,695 shares during the last quarter. Elkfork Partners LLC boosted its stake in Arrow Electronics by 59.6% in the first quarter. Elkfork Partners LLC now owns 9,656 shares of the technology company’s stock worth $709,000 after buying an additional 3,604 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Arrow Electronics by 25.4% in the first quarter. Swiss National Bank now owns 317,348 shares of the technology company’s stock worth $23,297,000 after buying an additional 64,300 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.
About Arrow Electronics
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.
Receive News & Ratings for Arrow Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.