Zacks: Brokerages Anticipate Arrow Electronics, Inc. (ARW) to Announce $1.81 EPS
Wall Street analysts predict that Arrow Electronics, Inc. (NYSE:ARW) will report $1.81 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Arrow Electronics’ earnings, with estimates ranging from $1.80 to $1.83. Arrow Electronics reported earnings per share of $1.56 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, November 2nd.
According to Zacks, 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 $7.35. For the next financial year, analysts anticipate that the firm will post earnings of $8.05 per share, with EPS estimates ranging from $7.90 to $8.12. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the business posted $1.65 EPS. Arrow Electronics’s revenue was up 8.3% on a year-over-year basis.
Several research analysts recently weighed in on the stock. BidaskClub cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “hold” rating and set a $81.00 price target (up 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 price target on shares of Arrow Electronics in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $80.60.
In other Arrow Electronics news, Chairman Michael J. Long sold 20,910 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.01, for a total value of $1,589,369.10. Following the transaction, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the completion of the transaction, the insider now owns 26,213 shares in the company, valued at $2,022,595.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its stake in 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 acquiring an additional 1,170 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Arrow Electronics by 776.0% in the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock valued at $172,000 after acquiring an additional 1,940 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Arrow Electronics in the first quarter valued at about $213,000. Advisor Partners LLC boosted its stake in Arrow Electronics by 2.6% in the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock valued at $220,000 after acquiring an additional 71 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in Arrow Electronics in the second quarter valued at about $231,000. Hedge funds and other institutional investors own 93.14% of the company’s stock.
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Shares of Arrow Electronics (NYSE ARW) traded up 1.09% during midday trading on Friday, reaching $83.58. 256,317 shares of the company traded hands. The firm has a market capitalization of $7.38 billion, a PE ratio of 15.28 and a beta of 1.15. The company has a 50-day moving average of $80.66 and a 200 day moving average of $77.51. Arrow Electronics has a 12-month low of $58.51 and a 12-month high of $84.53.
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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