Equities research analysts forecast that Arrow Electronics (NYSE:ARW) will report earnings of $2.14 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Arrow Electronics’ earnings, with estimates ranging from $2.11 to $2.16. Arrow Electronics reported earnings of $1.78 per share in the same quarter last year, which suggests a positive year over year growth rate of 20.2%. The business is scheduled to announce its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Arrow Electronics will report full year earnings of $8.78 per share for the current fiscal year, with EPS estimates ranging from $8.50 to $8.97. For the next financial year, analysts forecast that the business will report earnings of $9.30 per share, with EPS estimates ranging from $9.00 to $9.70. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 3rd. The technology company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.06. Arrow Electronics had a net margin of 1.53% and a return on equity of 14.41%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year.
A number of research analysts have weighed in on ARW shares. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Friday, February 23rd. Deutsche Bank lowered their target price on shares of Arrow Electronics from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Friday, May 4th. ValuEngine lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Stifel Nicolaus lowered their target price on shares of Arrow Electronics from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Finally, Pivotal Research set a $98.00 target price on shares of Arrow Electronics and gave the company a “buy” rating in a research note on Saturday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.40.
In other news, insider Mary Catherine Morris sold 1,455 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.13, for a total transaction of $119,499.15. Following the completion of the sale, the insider now directly owns 30,737 shares of the company’s stock, valued at $2,524,429.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent P. Melvin sold 3,125 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $82.64, for a total transaction of $258,250.00. Following the sale, the insider now directly owns 18,371 shares of the company’s stock, valued at $1,518,179.44. The disclosure for this sale can be found here. Insiders have sold 59,113 shares of company stock valued at $4,898,398 over the last three months. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Arrow Electronics by 26.9% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 75,100 shares of the technology company’s stock worth $6,039,000 after acquiring an additional 15,900 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Arrow Electronics by 11.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 15,533 shares of the technology company’s stock worth $1,249,000 after acquiring an additional 1,600 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Arrow Electronics in the fourth quarter worth about $4,476,000. BlackRock Inc. lifted its stake in Arrow Electronics by 1.8% in the fourth quarter. BlackRock Inc. now owns 8,300,258 shares of the technology company’s stock worth $667,422,000 after acquiring an additional 150,230 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in Arrow Electronics by 3.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 512,689 shares of the technology company’s stock worth $41,226,000 after acquiring an additional 18,125 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics opened at $74.62 on Friday, MarketBeat.com reports. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. Arrow Electronics has a twelve month low of $72.31 and a twelve month high of $87.26. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.72 and a beta of 1.17.
About Arrow Electronics
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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