Arrow Electronics, Inc. (ARW) Issues Q4 Earnings Guidance
Arrow Electronics, Inc. (ARW) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.01-1.13 for the period.
Shares of Arrow Electronics, Inc. (ARW) traded up 2.26% during mid-day trading on Wednesday, hitting $35.33. Arrow Electronics, Inc. (ARW) has a one year low of $30.84 and a one year high of $43.39. The company has a market cap of $3.844 billion and a P/E ratio of 7.34.
Arrow Electronics last released its earnings data on Wednesday, October 31st. The company reported $1.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.03. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that Arrow Electronics, Inc. (ARW) will post $4.33 EPS for the current fiscal year.
A number of analysts have recently weighed in on ARW shares. Analysts at Zacks upgraded shares of Arrow Electronics from an underperform rating to a neutral rating in a research note to investors on Friday, September 21st. They now have a $36.00 price target on the stock. On a related note, analysts at Miller Tabak downgraded shares of Arrow Electronics from a buy rating to a neutral rating in a research note to investors on Tuesday, September 18th. They now have a $41.00 price target on the stock. Finally, analysts at Credit Agricole initiated coverage on shares of Arrow Electronics in a research note to investors on Tuesday, August 14th. They set an outperform rating on the stock.
Arrow Electronics, Inc. (Arrow) is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
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