Arrow Electronics, Inc. (ARW) Set to Announce Earnings on Wednesday
Arrow Electronics, Inc. (NYSE:ARW) will release its earnings data on Wednesday, November 1st. Analysts expect Arrow Electronics to post earnings of $1.81 per share for the quarter. Arrow Electronics has set its Q3 guidance at $1.74-1.86 EPS.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The business 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 company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. On average, analysts expect Arrow Electronics to post $7.31 EPS for the current fiscal year and $8.08 EPS for the next fiscal year.
Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at 83.33 on Wednesday. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 15.24 and a beta of 1.15. Arrow Electronics, Inc. has a one year low of $58.51 and a one year high of $84.53. The firm has a 50-day moving average of $80.85 and a 200-day moving average of $77.78.
In other news, Chairman Michael J. Long sold 20,910 shares of the company’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 document filed with the SEC, which is available at the SEC website. Also, insider Sean J. Kerins sold 4,477 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was 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. Corporate insiders own 1.20% of the company’s stock.
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Several equities research analysts have recently weighed in on ARW shares. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, September 11th. BidaskClub downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $81.00 target price (up previously from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.60.
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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