Arrow Electronics (NYSE:ARW) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.80-8.80 for the period, compared to the Thomson Reuters consensus estimate of $8.86. The company issued revenue guidance of $29.66-29.66 billion, compared to the consensus revenue estimate of $29.54 billion.Arrow Electronics also updated its Q4 guidance to $2.46-2.62 EPS.
A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Arrow Electronics from $72.00 to $73.00 and gave the stock a neutral rating in a research report on Friday. Wells Fargo & Co assumed coverage on shares of Arrow Electronics in a research report on Tuesday, July 17th. They set an outperform rating and a $90.00 target price on the stock. Finally, Zacks Investment Research raised shares of Arrow Electronics from a hold rating to a buy rating and set a $86.00 target price on the stock in a research report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $86.00.
ARW stock traded up $4.33 on Friday, reaching $74.98. 1,253,235 shares of the company were exchanged, compared to its average volume of 472,111. Arrow Electronics has a 12 month low of $64.04 and a 12 month high of $87.26. The firm has a market capitalization of $5.80 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.02. The firm had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Arrow Electronics had a net margin of 1.72% and a return on equity of 14.81%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. Equities research analysts anticipate that Arrow Electronics will post 8.87 EPS for the current fiscal year.
In other Arrow Electronics news, SVP Gretchen Zech sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $77.00, for a total value of $346,500.00. Following the sale, the senior vice president now owns 21,814 shares of the company’s stock, valued at approximately $1,679,678. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vincent P. Melvin sold 2,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $78.10, for a total transaction of $156,200.00. Following the completion of the sale, the insider now directly owns 16,371 shares in the company, valued at approximately $1,278,575.10. The disclosure for this sale can be found here. Insiders own 1.30% 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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