$6.56 Billion in Sales Expected for Arrow Electronics, Inc. (ARW) This Quarter
Analysts expect Arrow Electronics, Inc. (NYSE:ARW) to announce sales of $6.56 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Arrow Electronics’ earnings. The lowest sales estimate is $6.52 billion and the highest is $6.58 billion. Arrow Electronics reported sales of $5.94 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Arrow Electronics will report full year sales of $6.56 billion for the current fiscal year, with estimates ranging from $25.77 billion to $26.06 billion. For the next financial year, analysts forecast that the business will post sales of $26.90 billion per share, with estimates ranging from $26.48 billion to $27.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share.
Several analysts recently commented on the stock. BidaskClub downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price target on shares of Arrow Electronics in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.60.
In other Arrow Electronics news, Chairman Michael J. Long sold 20,910 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $26,336,400.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction on 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 directly owns 26,213 shares in the company, valued at $2,022,595.08. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in Arrow Electronics by 489.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after buying an additional 1,170 shares during the period. NEXT Financial Group Inc increased its stake in Arrow Electronics by 776.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock valued at $172,000 after buying an additional 1,940 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Arrow Electronics in the 1st quarter valued at $213,000. Advisor Partners LLC increased its stake in Arrow Electronics by 2.6% in the 2nd quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock valued at $220,000 after buying an additional 71 shares during the period. Finally, Atria Investments LLC acquired a new position in Arrow Electronics in the 2nd quarter valued at $231,000. 93.34% of the stock is currently owned by institutional investors.
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Shares of Arrow Electronics (ARW) opened at 83.19 on Tuesday. The stock has a 50 day moving average of $80.78 and a 200-day moving average of $77.68. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 15.21 and a beta of 1.15. Arrow Electronics has a 1-year low of $58.51 and a 1-year high of $84.53.
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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