Arrow Electronics (NYSE:ARW) posted its quarterly earnings data on Tuesday. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.21, Briefing.com reports. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter in the previous year, the business earned $2.00 EPS. Arrow Electronics’s revenue was up 18.5% compared to the same quarter last year. Arrow Electronics updated its Q1 guidance to $1.74-1.86 EPS.
Arrow Electronics (NYSE ARW) traded down $2.46 on Tuesday, reaching $76.69. The company had a trading volume of 408,433 shares, compared to its average volume of 424,982. Arrow Electronics has a one year low of $68.55 and a one year high of $87.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.57. The stock has a market cap of $7,125.81, a PE ratio of 13.93, a P/E/G ratio of 0.86 and a beta of 1.17.
Separately, Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd.
Several hedge funds have recently modified their holdings of ARW. Stifel Financial Corp lifted its holdings in shares of Arrow Electronics by 5.8% in the 2nd quarter. Stifel Financial Corp now owns 9,608 shares of the technology company’s stock worth $757,000 after buying an additional 530 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Arrow Electronics by 17.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 12,819 shares of the technology company’s stock worth $1,005,000 after buying an additional 1,919 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Arrow Electronics by 36.6% in the 2nd quarter. Flinton Capital Management LLC now owns 6,208 shares of the technology company’s stock worth $487,000 after buying an additional 1,664 shares during the period. Shelton Capital Management purchased a new stake in shares of Arrow Electronics in the 2nd quarter worth $532,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Arrow Electronics by 79.4% in the 2nd quarter. Janus Henderson Group PLC now owns 19,260 shares of the technology company’s stock worth $1,510,000 after buying an additional 8,526 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.
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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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