Equities research analysts forecast that Arrow Electronics (NYSE:ARW) will announce $6.63 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Arrow Electronics’ earnings, with the lowest sales estimate coming in at $6.60 billion and the highest estimate coming in at $6.66 billion. Arrow Electronics posted sales of $5.76 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The firm is expected to issue its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that Arrow Electronics will report full year sales of $28.59 billion for the current fiscal year, with estimates ranging from $28.46 billion to $28.71 billion. For the next fiscal year, analysts forecast that the firm will post sales of $29.31 billion per share, with estimates ranging from $28.88 billion to $29.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.21. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same period in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Thursday, April 12th. ValuEngine lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Pivotal Research assumed coverage on Arrow Electronics in a research report on Tuesday, February 13th. They issued a “buy” rating and a $98.00 price target for the company. Finally, Raymond James raised Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target for the company in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Buy” and an average price target of $88.80.
In other news, insider Mary Catherine Morris sold 1,455 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.13, for a total value of $119,499.15. Following the completion of the transaction, the insider now directly owns 30,737 shares of the company’s stock, valued at approximately $2,524,429.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vincent P. Melvin sold 3,125 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $82.64, for a total value of $258,250.00. Following the completion of the transaction, the insider now directly owns 18,371 shares of the company’s stock, valued at $1,518,179.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,113 shares of company stock valued at $4,898,398. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARW. Xact Kapitalforvaltning AB increased its position in Arrow Electronics by 5.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 18,719 shares of the technology company’s stock valued at $1,505,000 after buying an additional 1,001 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Arrow Electronics by 2.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,275 shares of the technology company’s stock valued at $3,399,000 after buying an additional 987 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Arrow Electronics by 26.9% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 75,100 shares of the technology company’s stock valued at $6,039,000 after buying an additional 15,900 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Arrow Electronics during the 4th quarter valued at about $4,476,000. Finally, Gotham Asset Management LLC acquired a new position in Arrow Electronics during the 4th quarter valued at about $538,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
Shares of ARW stock traded down $0.50 during mid-day trading on Tuesday, hitting $77.85. The stock had a trading volume of 50,083 shares, compared to its average volume of 501,822. Arrow Electronics has a 12-month low of $70.13 and a 12-month high of $87.26. The stock has a market capitalization of $6,863.27, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.91 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59.
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Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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