$1.81 EPS Expected for Arrow Electronics, Inc. (ARW) This Quarter
Equities research analysts expect Arrow Electronics, Inc. (NYSE:ARW) to announce earnings of $1.81 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Arrow Electronics’ earnings. The lowest EPS estimate is $1.80 and the highest is $1.82. Arrow Electronics posted earnings of $1.56 per share during the same quarter last year, which would indicate a positive year over year growth rate of 16%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Arrow Electronics will report full-year earnings of $7.30 per share for the current fiscal year, with EPS estimates ranging from $7.26 to $7.33. For the next year, analysts forecast that the business will report earnings of $8.04 per share, with EPS estimates ranging from $7.90 to $8.12. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. The business had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. Arrow Electronics’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS.
ARW has been the subject of several recent research reports. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub cut shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Deutsche Bank AG restated a “hold” rating and set a $81.00 target price (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $86.00 target price on shares of Arrow Electronics in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $76.67.
Arrow Electronics (NYSE ARW) opened at 78.79 on Friday. Arrow Electronics has a 12-month low of $58.51 and a 12-month high of $84.53. The stock’s 50 day moving average is $77.83 and its 200-day moving average is $76.00. The company has a market cap of $6.95 billion, a P/E ratio of 14.41 and a beta of 1.12.
In other news, insider Sean J. Kerins sold 4,477 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.16, for a total value of $345,445.32. Following the transaction, the insider now directly owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael J. Long sold 20,910 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the transaction, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ARW. Advisory Services Network LLC raised its position in shares of Arrow Electronics by 489.5% in the second quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,170 shares during the period. NEXT Financial Group Inc increased its position in Arrow Electronics by 776.0% during the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after acquiring an additional 1,940 shares during the period. Meeder Asset Management Inc. increased its position in Arrow Electronics by 11.0% during the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock worth $188,000 after acquiring an additional 255 shares during the period. Nordea Investment Management AB increased its position in Arrow Electronics by 87.2% during the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock worth $197,000 after acquiring an additional 1,248 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in Arrow Electronics during the first quarter worth about $213,000. 93.31% of the stock is currently owned by 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.
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