Arrow Electronics (NYSE:ARW – Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04, Briefing.com reports. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The firm’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.60 EPS. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.
Arrow Electronics Trading Up 1.8 %
NYSE:ARW traded up $2.18 during mid-day trading on Friday, hitting $124.89. 542,271 shares of the company’s stock were exchanged, compared to its average volume of 443,307. The company has a 50 day simple moving average of $123.70 and a 200-day simple moving average of $119.56. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The firm has a market capitalization of $6.74 billion, a P/E ratio of 9.81 and a beta of 1.39.
Insider Buying and Selling
In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the 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 sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, 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. Insiders have sold a total of 4,134 shares of company stock worth $488,795 in the last ninety days. Company insiders own 1.00% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on Arrow Electronics
About Arrow Electronics
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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