Arrow Electronics, Inc. (NYSE:ARW) Expected to Post Earnings of $4.56 Per Share

Brokerages predict that Arrow Electronics, Inc. (NYSE:ARWGet Rating) will post earnings of $4.56 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Arrow Electronics’ earnings. The lowest EPS estimate is $4.23 and the highest is $4.85. Arrow Electronics posted earnings of $3.34 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.5%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Arrow Electronics will report full-year earnings of $18.48 per share for the current year, with EPS estimates ranging from $16.88 to $19.70. For the next fiscal year, analysts anticipate that the company will post earnings of $17.09 per share, with EPS estimates ranging from $13.26 to $20.36. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARWGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The technology company reported $5.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.87. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.71 billion. Arrow Electronics had a return on equity of 24.40% and a net margin of 3.60%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 earnings per share.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “strong-buy” rating and set a $146.00 price target on the stock in a report on Tuesday, February 8th. StockNews.com assumed coverage on shares of Arrow Electronics in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Raymond James upgraded shares of Arrow Electronics from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, February 2nd. Finally, Truist Financial reduced their price objective on shares of Arrow Electronics from $143.00 to $126.00 and set a “hold” rating for the company in a research report on Friday, April 8th.

In other news, SVP Vincent P. Melvin sold 20,477 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $122.14, for a total transaction of $2,501,060.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher Stansbury sold 52,993 shares of the business’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $121.60, for a total transaction of $6,443,948.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,580 shares of company stock valued at $12,053,449. Corporate insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Arrow Electronics during the 4th quarter valued at $92,533,000. Los Angeles Capital Management LLC lifted its holdings in shares of Arrow Electronics by 372.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 432,288 shares of the technology company’s stock valued at $51,282,000 after acquiring an additional 340,716 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Arrow Electronics by 149.5% during the 4th quarter. Woodline Partners LP now owns 486,443 shares of the technology company’s stock valued at $65,315,000 after acquiring an additional 291,490 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Arrow Electronics in the 4th quarter worth $36,538,000. Finally, Cooke & Bieler LP lifted its holdings in Arrow Electronics by 8.5% in the 3rd quarter. Cooke & Bieler LP now owns 2,930,716 shares of the technology company’s stock worth $329,090,000 after buying an additional 228,949 shares in the last quarter. 93.38% of the stock is owned by institutional investors.

Shares of NYSE ARW traded up $0.46 during midday trading on Friday, reaching $124.93. 859,487 shares of the company were exchanged, compared to its average volume of 479,975. The company has a current ratio of 1.49, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. Arrow Electronics has a 1 year low of $107.11 and a 1 year high of $137.95. The stock has a fifty day simple moving average of $118.35 and a 200 day simple moving average of $123.23. The stock has a market cap of $8.37 billion, a P/E ratio of 7.02, a PEG ratio of 2.15 and a beta of 1.37.

Arrow Electronics Company Profile (Get 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, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.

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