Arrow Electronics, Inc. (NYSE:ARW) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.21-2.37 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.27. The company issued revenue guidance of $7.2-7.6 billion, compared to the consensus revenue estimate of $7.18 billion.
ARW has been the subject of a number of recent analyst reports. BidaskClub downgraded Arrow Electronics from a buy rating to a hold rating in a report on Wednesday, August 9th. Zacks Investment Research cut Arrow Electronics from a buy rating to a hold rating in a research note on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a hold rating and set a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $86.00 price objective on shares of Arrow Electronics in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $83.25.
Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at $78.28 on Monday. The firm has a market capitalization of $6,886.53, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.93 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.57. Arrow Electronics, Inc. has a twelve month low of $62.10 and a twelve month high of $84.53.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.82. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the company earned $1.56 EPS. Arrow Electronics’s revenue for the quarter was up 17.1% compared to the same quarter last year. research analysts forecast that Arrow Electronics, Inc. will post 7.35 earnings per share for the current year.
In other news, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $77.16, for a total value of $345,445.32. Following the transaction, the insider now owns 26,213 shares in the company, valued at approximately $2,022,595.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.
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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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