Brokerages expect Arrow Electronics, Inc. (NYSE:ARW) to report earnings of $5.57 per share
Brokerages expect Arrow Electronics, Inc. (NYSE: ARW – Get Rating) to post earnings per share (EPS) of $5.57 for the current quarter, according to Zacks. Three analysts have made earnings estimates for Arrow Electronics, with the lowest EPS estimate of $5.56 and the highest estimate of $5.59. Arrow Electronics reported earnings of $3.34 per share in the same quarter last year, indicating a positive year-over-year growth rate of 66.8%. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Arrow Electronics to report annual earnings of $21.57 per share for the current year, with EPS estimates ranging from $19.59 to $22.37. For next year, analysts expect the company to report earnings of $18.32 per share, with EPS estimates ranging from $13.30 to $22.50. Zacks earnings per share averages are an average average based on a survey of sell-side research firms that provide coverage for Arrow Electronics.
Arrow Electronics (NYSE:ARW – Get Rating) last reported quarterly earnings data on Thursday, May 5. The technology company reported earnings per share of $5.43 for the quarter, beating the consensus estimate of $4.53 by $0.90. The company posted revenue of $9.07 billion in the quarter, versus $8.71 billion expected by analysts. Arrow Electronics had a return on equity of 24.40% and a net margin of 3.60%. The company’s quarterly revenue increased by 8.2% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $2.84.
Several equity research analysts have recently commented on the company. Truist Financial cut its price target on Arrow Electronics from $143.00 to $126.00 and set a “hold” rating for the company in a Friday, April 8 report. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “strong-buy” rating and set a price target of $146.00 for the company in a Tuesday, February 8 report. Raymond James upgraded Arrow Electronics from a “market performer” rating to an “outperformer” rating and set a price target of $150.00 for the company in a Wednesday, Feb. 2 report. Finally, StockNews.com upgraded Arrow Electronics from a “buy” rating to a “strong buy” rating in a report released Saturday.
NYSE:ARW traded at $2.18 during Friday trading hours, hitting $121.33. 541,059 shares were traded, against an average volume of 738,925. Arrow Electronics has a 12-month low of $107.11 and a 12-month high of $137.95. The company has a debt ratio of 0.51, a current ratio of 1.49 and a quick ratio of 1.06. The company has a 50-day moving average of $118.53 and a 200-day moving average of $123.48. The stock has a market capitalization of $8.01 billion, a PE ratio of 6.82, a PEG ratio of 1.80 and a beta of 1.37.
Separately, SVP David Alan West sold 2,125 shares of the company in a trade on Monday, May 9. The stock was sold at an average price of $124.47, for a total value of $264,498.75. Following the transaction, the senior vice president now owns 13,446 shares of the company, valued at $1,673,623.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Andrew Charles Kerin sold 1,550 shares of the company in a trade on Friday, May 13. The stock was sold at an average price of $125.11, for a total value of $193,920.50. The disclosure of this sale can be found here. Insiders sold a total of 29,475 shares of the company valued at $3,648,254 in the past ninety days. Insiders own 1.00% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their stock holdings. Neuberger Berman Group LLC increased its stake in Arrow Electronics by 4.4% in the first quarter. Neuberger Berman Group LLC now owns 2,837 shares of the technology company valued at $337,000 after buying 119 additional shares last quarter. Toroso Investments LLC increased its stake in Arrow Electronics by 13.7% in the first quarter. Toroso Investments LLC now owns 2,401 shares of the technology company valued at $285,000 after buying an additional 290 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Arrow Electronics by 53.2% in the first quarter. BNP Paribas Arbitrage SA now owns 76,280 shares of the technology company valued at $9,049,000 after buying 26,477 additional shares last quarter. Beacon Pointe Advisors LLC increased its stake in Arrow Electronics to 86.7% in the first quarter. Beacon Pointe Advisors LLC now owns 3,564 shares of the technology company valued at $423,000 after buying 1,655 additional shares last quarter. Finally, the Royal Bank of Canada increased its stake in Arrow Electronics by 20.3% in the first quarter. Royal Bank of Canada now owns 26,486 shares of the technology company valued at $3,142,000 after buying 4,468 more shares last quarter. Institutional investors hold 93.38% of the company’s shares.
Arrow Electronics Company Profile (Get a rating)
Arrow Electronics, Inc provides products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, Middle East, Africa and Asia-Pacific. The Company operates in two segments, Global Components and Global Enterprise Computing Solutions.
Get a Free Copy of Zacks’ Research Report on Arrow Electronics (ARW)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Arrow Electronics Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Arrow Electronics and related companies with MarketBeat.com’s FREE daily newsletter.