Arrow Electronics (NYSE:ARW) Issues Q3 Earnings Guidance

Arrow Electronics (NYSE:ARW – Get Rating) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $5.27-5.43 for the period, compared to the consensus EPS estimate of $5.38. The company issued revenue guidance of $8.92-9.52 billion, compared to the consensus revenue estimate of $9.38 billion. Arrow Electronics also updated its Q3 2022 guidance to $5.27-$5.43 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group cut their target price on Arrow Electronics from $158.00 to $127.00 in a research report on Friday, July 15th. StockNews.com downgraded Arrow Electronics from a strong-buy rating to a buy rating in a research report on Monday, July 18th. Finally, Truist Financial cut their price objective on Arrow Electronics from $143.00 to $126.00 and set a hold rating for the company in a research report on Friday, April 8th.

Arrow Electronics Trading Down 2.8 %

NYSE:ARW traded down $3.34 on Friday, reaching $115.77. The company’s stock had a trading volume of 760,131 shares, compared to its average volume of 354,581. Arrow Electronics has a 1-year low of $105.33 and a 1-year high of $137.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.49. The firm has a market cap of $7.65 billion, a PE ratio of 5.76, a PEG ratio of 1.76 and a beta of 1.35. The business’s 50-day moving average price is $116.29 and its two-hundred day moving average price is $119.23.

Arrow Electronics (NYSE:ARW – Get Rating) last posted its earnings results on Thursday, August 4th. The technology company reported $5.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.57 by $0.21. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Arrow Electronics had a return on equity of 26.76% and a net margin of 3.87%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.34 earnings per share. Equities research analysts anticipate that Arrow Electronics will post 21.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrow Electronics news, SVP Vincent P. Melvin sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $122.26, for a total value of $652,134.84. Following the sale, the senior vice president now owns 25,381 shares in the company, valued at $3,103,081.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Vincent P. Melvin sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $122.26, for a total value of $652,134.84. Following the transaction, the senior vice president now owns 25,381 shares of the company’s stock, valued at $3,103,081.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Alan West sold 2,125 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $124.47, for a total value of $264,498.75. Following the completion of the transaction, the senior vice president now directly owns 13,446 shares in the company, valued at approximately $1,673,623.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,475 shares of company stock worth $3,648,254. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Arrow Electronics

A number of large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of Arrow Electronics in the 1st quarter valued at $52,000. Covestor Ltd lifted its stake in shares of Arrow Electronics by 55.6% in the 1st quarter. Covestor Ltd now owns 879 shares of the technology company’s stock valued at $104,000 after acquiring an additional 314 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Arrow Electronics in the 1st quarter valued at $250,000. Blair William & Co. IL bought a new position in shares of Arrow Electronics in the 1st quarter valued at $273,000. Finally, Cetera Investment Advisers bought a new position in shares of Arrow Electronics in the 1st quarter valued at $275,000. Institutional investors and hedge funds own 93.38% of the company’s stock.

About Arrow Electronics

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Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.