Wall Street analysts expect Arrow Electronics (NYSE:ARW) to announce earnings of $1.82 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Arrow Electronics’ earnings. The lowest EPS estimate is $1.80 and the highest is $1.85. Arrow Electronics reported earnings per share of $1.46 during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.7%. The company is expected to issue its next earnings results after the market closes on Thursday, May 3rd.
According to Zacks, analysts expect that Arrow Electronics will report full-year earnings of $8.48 per share for the current financial year, with EPS estimates ranging from $8.35 to $8.65. For the next financial year, analysts expect that the company will post earnings of $9.04 per share, with EPS estimates ranging from $8.79 to $9.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last released its earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.21. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS.
ARW has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Raymond James raised Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a research note on Monday, February 12th. Pivotal Research initiated coverage on Arrow Electronics in a research note on Tuesday, February 13th. They set a “buy” rating and a $98.00 price target on the stock. Finally, ValuEngine lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Arrow Electronics has an average rating of “Buy” and an average price target of $88.80.
In related news, insider Vincent P. Melvin sold 3,125 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $82.64, for a total value of $258,250.00. Following the transaction, the insider now directly owns 18,371 shares of the company’s stock, valued at approximately $1,518,179.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Catherine Morris sold 1,455 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.13, for a total value of $119,499.15. Following the completion of the transaction, the insider now directly owns 30,737 shares in the company, valued at $2,524,429.81. The disclosure for this sale can be found here. Insiders sold a total of 59,113 shares of company stock worth $4,898,398 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ARW. SG Americas Securities LLC raised its position in shares of Arrow Electronics by 768.9% in the 3rd quarter. SG Americas Securities LLC now owns 3,425 shares of the technology company’s stock worth $275,000 after buying an additional 3,937 shares during the period. Stifel Financial Corp raised its position in shares of Arrow Electronics by 44.9% in the 3rd quarter. Stifel Financial Corp now owns 13,919 shares of the technology company’s stock worth $1,121,000 after buying an additional 4,311 shares during the period. Envestnet Asset Management Inc. increased its holdings in Arrow Electronics by 2,735.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the technology company’s stock valued at $702,000 after purchasing an additional 8,426 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Arrow Electronics by 32.3% in the 3rd quarter. Janus Henderson Group PLC now owns 25,478 shares of the technology company’s stock valued at $2,049,000 after purchasing an additional 6,218 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Arrow Electronics by 2.6% in the 3rd quarter. California Public Employees Retirement System now owns 286,260 shares of the technology company’s stock valued at $23,018,000 after purchasing an additional 7,295 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.
ARW stock traded down $0.50 on Friday, reaching $77.85. The company had a trading volume of 50,083 shares, compared to its average volume of 501,822. Arrow Electronics has a 1 year low of $70.13 and a 1 year high of $87.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.15 and a current ratio of 1.56. The firm has a market cap of $6,863.27, a P/E ratio of 10.36, a PEG ratio of 0.91 and a beta of 1.16.
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Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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