Brokerages predict that Arrow Electronics, Inc. (NYSE:ARW) will announce sales of $7.20 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Arrow Electronics’ earnings, with the lowest sales estimate coming in at $7.15 billion and the highest estimate coming in at $7.24 billion. Arrow Electronics reported sales of $6.47 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The company is expected to announce its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Arrow Electronics will report full-year sales of $29.14 billion for the current fiscal year, with estimates ranging from $29.09 billion to $29.25 billion. For the next fiscal year, analysts anticipate that the business will report sales of $29.77 billion per share, with estimates ranging from $29.52 billion to $30.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.06. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.66 billion. Arrow Electronics had a return on equity of 14.41% and a net margin of 1.53%. Arrow Electronics’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share.
ARW has been the topic of a number of recent analyst reports. ValuEngine lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Stifel Nicolaus reduced their target price on Arrow Electronics from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Pivotal Research set a $98.00 target price on Arrow Electronics and gave the stock a “buy” rating in a research note on Saturday, May 5th. Finally, Deutsche Bank reduced their target price on Arrow Electronics from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Friday, May 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.40.
ARW traded up $0.14 during trading on Monday, reaching $75.28. The company had a trading volume of 381,947 shares, compared to its average volume of 447,129. The company has a market cap of $6.58 billion, a PE ratio of 9.96, a P/E/G ratio of 0.73 and a beta of 1.17. Arrow Electronics has a 52 week low of $72.31 and a 52 week high of $87.26. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.69.
In other Arrow Electronics news, SVP Matthew R. Anderson sold 1,785 shares of the stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $74.16, for a total value of $132,375.60. Following the sale, the senior vice president now owns 13,050 shares in the company, valued at $967,788. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ARW. Signaturefd LLC purchased a new position in shares of Arrow Electronics during the first quarter valued at $131,000. TLP Group LLC purchased a new position in shares of Arrow Electronics during the first quarter valued at $152,000. Financial Gravity Companies Inc. purchased a new position in shares of Arrow Electronics during the fourth quarter valued at $160,000. Financial Gravity Wealth Inc. purchased a new position in shares of Arrow Electronics during the first quarter valued at $181,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Arrow Electronics during the first quarter valued at $208,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
About Arrow Electronics
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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