Arrow Electronics (NYSE:ARW) Releases Q2 2022 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.48-$5.64 for the period, compared to the consensus estimate of $4.62. The company issued revenue guidance of $9.04 billion-$9.64 billion, compared to the consensus revenue estimate of $8.94 billion.

A number of brokerages recently issued reports on ARW. Raymond James raised Arrow Electronics from a market perform rating to an outperform rating and set a $150.00 price target on the stock in a research report on Wednesday, February 2nd. StockNews.com downgraded Arrow Electronics from a strong-buy rating to a buy rating in a research report on Wednesday. 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 research report on Tuesday, February 8th. Finally, Truist Financial reduced their price target on Arrow Electronics from $143.00 to $126.00 and set a hold rating on the stock in a research report on Friday, April 8th.

Shares of ARW stock opened at $123.29 on Thursday. The stock’s fifty day moving average price is $118.56 and its two-hundred day moving average price is $123.38. The company has a market cap of $8.14 billion, a PE ratio of 6.93, a P/E/G ratio of 2.16 and a beta of 1.37. Arrow Electronics has a fifty-two week low of $107.11 and a fifty-two week high of $137.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.49.

Arrow Electronics (NYSE:ARWGet Rating) last issued its earnings results on Thursday, May 5th. The technology company reported $5.43 earnings per share for the quarter, beating analysts’ consensus estimates of $4.56 by $0.87. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.71 billion. Arrow Electronics had a return on equity of 24.40% and a net margin of 3.60%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.84 EPS. On average, equities analysts predict that Arrow Electronics will post 18.48 EPS for the current fiscal year.

In other news, COO Sean J. Kerins sold 8,687 shares of the stock in a transaction on Friday, February 18th. The stock was sold at an average price of $123.08, for a total value of $1,069,195.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury sold 52,993 shares of the stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $121.60, for a total value of $6,443,948.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,705 shares of company stock worth $12,317,948. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Synovus Financial Corp raised its position in Arrow Electronics by 3.2% during the 4th quarter. Synovus Financial Corp now owns 3,190 shares of the technology company’s stock worth $429,000 after purchasing an additional 98 shares during the last quarter. Toroso Investments LLC raised its position in Arrow Electronics by 15.1% during the 4th quarter. Toroso Investments LLC now owns 2,111 shares of the technology company’s stock worth $283,000 after purchasing an additional 277 shares during the last quarter. MML Investors Services LLC raised its position in Arrow Electronics by 6.6% during the 4th quarter. MML Investors Services LLC now owns 8,850 shares of the technology company’s stock worth $1,188,000 after purchasing an additional 547 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in Arrow Electronics by 6.6% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 12,451 shares of the technology company’s stock worth $1,672,000 after purchasing an additional 767 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its position in Arrow Electronics by 3.7% during the 4th quarter. Vident Investment Advisory LLC now owns 21,835 shares of the technology company’s stock worth $2,931,000 after purchasing an additional 789 shares during the last quarter. 93.38% of the stock is owned by institutional investors and hedge funds.

About Arrow Electronics (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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