Zacks: Brokerages Anticipate Arrow Electronics, Inc. (NYSE:ARW) to Post $3.52 Earnings Per Share

Analysts predict that Arrow Electronics, Inc. (NYSE:ARW) will post $3.52 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Arrow Electronics’ earnings. The lowest EPS estimate is $3.51 and the highest is $3.55. Arrow Electronics reported earnings per share of $2.08 during the same quarter last year, which suggests a positive year-over-year growth rate of 69.2%. The company is expected to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Arrow Electronics will report full-year earnings of $13.51 per share for the current year, with EPS estimates ranging from $13.30 to $13.75. For the next financial year, analysts forecast that the business will post earnings of $14.26 per share, with EPS estimates ranging from $14.12 to $14.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 5th. The technology company reported $3.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.96 by $0.38. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.55 billion. Arrow Electronics had a net margin of 2.60% and a return on equity of 17.03%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share.

Separately, Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Tuesday, August 10th.

Shares of Arrow Electronics stock traded up $0.71 during midday trading on Friday, hitting $112.94. The company had a trading volume of 4,554 shares, compared to its average volume of 478,828. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.34 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $116.33 and a 200 day simple moving average of $114.88. Arrow Electronics has a 12-month low of $75.27 and a 12-month high of $124.76.

Arrow Electronics declared that its Board of Directors has authorized a stock buyback program on Thursday, August 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, Director Gail Hamilton sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $119.22, for a total transaction of $345,738.00. Following the sale, the director now owns 101 shares of the company’s stock, valued at approximately $12,041.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher Stansbury sold 11,238 shares of the stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $121.43, for a total value of $1,364,630.34. Following the transaction, the chief financial officer now owns 19,161 shares in the company, valued at approximately $2,326,720.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,929 shares of company stock worth $4,331,764. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Arrow Electronics by 0.3% in the 2nd quarter. BlackRock Inc. now owns 8,235,816 shares of the technology company’s stock valued at $937,482,000 after purchasing an additional 28,052 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Arrow Electronics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,252,133 shares of the technology company’s stock worth $825,510,000 after acquiring an additional 62,696 shares during the period. State Street Corp raised its holdings in shares of Arrow Electronics by 4.6% during the 2nd quarter. State Street Corp now owns 3,189,737 shares of the technology company’s stock worth $363,088,000 after acquiring an additional 139,909 shares during the period. AQR Capital Management LLC raised its holdings in shares of Arrow Electronics by 0.4% during the 1st quarter. AQR Capital Management LLC now owns 3,056,127 shares of the technology company’s stock worth $338,680,000 after acquiring an additional 10,991 shares during the period. Finally, Lyrical Asset Management LP increased its position in shares of Arrow Electronics by 6.1% during the 1st quarter. Lyrical Asset Management LP now owns 1,816,015 shares of the technology company’s stock worth $201,251,000 after purchasing an additional 104,546 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.

Further Reading: Terms to Better Understand Call Options

Get a free copy of the Zacks research report on Arrow Electronics (ARW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.