Arrow Electronics (ARW) Scheduled to Post Quarterly Earnings on Thursday

Arrow Electronics (NYSE:ARW) will be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $2.31 per share for the quarter. Arrow Electronics has set its Q1 guidance at $2.20-2.40 EPS and its Q1 2024 guidance at 2.200-2.400 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter in the prior year, the business earned $5.69 EPS. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, analysts expect Arrow Electronics to post $12 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Arrow Electronics Stock Performance

Shares of ARW stock traded down $0.02 during trading hours on Tuesday, reaching $128.76. The company had a trading volume of 3,111 shares, compared to its average volume of 521,240. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39. The business has a fifty day moving average price of $122.96 and a 200-day moving average price of $119.35. Arrow Electronics has a one year low of $108.51 and a one year high of $147.42. The firm has a market cap of $6.95 billion, a PE ratio of 8.16 and a beta of 1.41.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research report on Friday, February 9th.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,134 shares of company stock valued at $488,795. 0.60% of the stock is owned by company insiders.

Arrow Electronics Company Profile

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.