Wall Street brokerages forecast that Arrow Electronics, Inc. (NYSE:ARW) will report sales of $6.55 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Arrow Electronics’ earnings, with the lowest sales estimate coming in at $6.52 billion and the highest estimate coming in at $6.58 billion. Arrow Electronics reported sales of $5.94 billion in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $6.55 billion for the current fiscal year, with estimates ranging from $25.77 billion to $26.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $26.87 billion per share, with estimates ranging from $26.48 billion to $27.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS.
ARW has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Thursday, August 24th. BidaskClub downgraded shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus increased their target price on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.83.
In other Arrow Electronics news, 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 transaction, the chairman now directly owns 346,486 shares in the company, valued at approximately $26,336,400.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean J. Kerins sold 4,477 shares of the 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 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. Company insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted 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 buying an additional 1,170 shares during the last quarter. NEXT Financial Group Inc boosted its position in shares of 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 buying an additional 1,940 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock valued at $188,000 after buying an additional 255 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock valued at $197,000 after buying an additional 1,248 shares during the last quarter. Finally, Advisor Partners LLC acquired a new position in shares of Arrow Electronics during the first quarter valued at about $200,000. Institutional investors own 93.30% of the company’s stock.
Shares of Arrow Electronics (ARW) traded down 0.37% during trading on Tuesday, reaching $79.14. 360,204 shares of the company were exchanged. The stock’s 50 day moving average is $78.95 and its 200 day moving average is $75.75. Arrow Electronics has a 1-year low of $58.51 and a 1-year high of $84.53. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 14.47 and a beta of 1.13.
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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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