Analysts expect Arrow Electronics, Inc. (NYSE:ARW) to report sales of $7.93 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Arrow Electronics’ earnings, with the highest sales estimate coming in at $7.94 billion and the lowest estimate coming in at $7.92 billion. Arrow Electronics reported sales of $6.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 24.3%. The firm is expected to issue its next earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Arrow Electronics will report full year sales of $33.08 billion for the current fiscal year, with estimates ranging from $32.48 billion to $33.58 billion. For the next year, analysts anticipate that the firm will report sales of $33.80 billion, with estimates ranging from $32.87 billion to $34.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Wednesday, February 3rd. The technology company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.50. Arrow Electronics had a net margin of 1.67% and a return on equity of 11.49%. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis.
Separately, Citigroup increased their price target on shares of Arrow Electronics from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $79.89.
In other Arrow Electronics news, insider Mary Catherine Morris sold 57,234 shares of the stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $105.64, for a total transaction of $6,046,199.76. Also, SVP Gretchen Zech sold 44,092 shares of the firm’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $104.76, for a total transaction of $4,619,077.92. Insiders sold 260,096 shares of company stock worth $27,040,958 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Inspire Advisors LLC bought a new position in Arrow Electronics in the fourth quarter worth $26,000. Perigon Wealth Management LLC bought a new position in shares of Arrow Electronics during the fourth quarter valued at $62,000. Private Capital Group LLC increased its stake in shares of Arrow Electronics by 14.3% in the fourth quarter. Private Capital Group LLC now owns 865 shares of the technology company’s stock valued at $84,000 after buying an additional 108 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at $99,000. Finally, Islay Capital Management LLC acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at $118,000. Institutional investors and hedge funds own 94.54% of the company’s stock.
ARW stock traded up $1.33 during mid-day trading on Tuesday, reaching $117.86. 428,423 shares of the stock traded hands, compared to its average volume of 517,277. The company has a current ratio of 1.47, a quick ratio of 1.06 and a debt-to-equity ratio of 0.43. Arrow Electronics has a 52-week low of $50.47 and a 52-week high of $117.73. The company has a market cap of $8.73 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.17 and a beta of 1.55. The stock’s fifty day moving average is $107.96 and its 200-day moving average is $97.34.
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 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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